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Abbott Laboratories Q2 profit rises 34 per cent, beats Wall Street estimates |
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Written by THE ASSOCIATED PRESS
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Saturday, 19 July 2008 |
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NORTH CHICAGO, Ill. - Abbott Laboratories Inc. has reported a 34 per cent rise in second-quarter profit, driven by robust sales of its drugs and medical devices.
The results released Wednesday topped Wall Street expectations.
For the quarter ended June 30, the North Chicago, Ill.-based company said net income rose to $1.32 billion, or 85 cents per share, from $988.7 million, or 63 cents, in the same period last year.
Sales increased nearly 15 per cent to $7.3 billion, aided by favourable exchange rates.
Excluding one-time items, the company said it earned $1.31 billion, or 84 cents per share.
Analysts polled by Thomson Financial expected an ex-items profit of 79 cents per share on $7.23 billion in revenue.
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Last Updated ( Saturday, 19 July 2008 )
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