Abbott quarterly profit soars 60%

Abbott quarterly profit soars 60%

Abbott Laboratories Inc reported a 60per cent rise in fourth-quarter profit on Wednesday, boosted by strong sales of its diabetes and heart devices.

Boxes of Abbott's heart stents are pictured inside a store at a hospital in New Delhi
FILE PHOTO: Boxes of Abbott's heart stents are pictured inside a store at a hospital in New Delhi, India, April 27, 2018. REUTERS/Adnan Abidi

REUTERS: Abbott Laboratories Inc reported a 60per cent rise in fourth-quarter profit on Wednesday, boosted by strong sales of its diabetes and heart devices.

The company's net earnings rose to US$1.05 billion, or 59 cents per share, in the quarter ended Dec. 31, from US$654 million, or 37 cents per share, a year earlier.

Net sales of the medical device maker rose 7per cent to US$8.31 billion.

(Reporting by Trisha Roy and Tamara Mathias in Bengaluru; Editing by Shinjini Ganguli)

Source: Reuters

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