Abbott: Q3 Earnings Snapshot

ABBOTT PARK, Ill. (AP) — ABBOTT PARK, Ill. (AP) — Abbott Laboratories (ABT) on Wednesday reported third-quarter net income of $920 million.

On a per-share basis, the Abbott Park, Illinois-based company said it had profit of 53 cents. Earnings, adjusted for one-time gains and costs, came to $1.42 per share.

The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.43 per share.

The maker of infant formula, medical devices and drugs posted revenue of $13.01 billion in the period, beating Street forecasts. Six analysts surveyed by Zacks expected $12.97 billion.

For the current quarter ending in December, Abbott expects its per-share earnings to range from $1.62 to $1.67.

The company expects full-year earnings in the range of $5.50 to $5.55 per share.

Abbott shares have declined 18% since the beginning of the year, while the S&P's 500 index has increased 13%. The stock has declined 21% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ABT at https://www.zacks.com/ap/ABT