Abbott Laboratories 4Q Profit, Sales Rise

Date : 01/22/2020 @ 1:19PM
Source : Dow Jones News
Stock : Abbott Laboratories (ABT)
Quote : 77.03  -2.16 (-2.73%) @ 10:38PM
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Last $ 77.60 ▲ 0.57 (0.74%)

Abbott Laboratories 4Q Profit, Sales Rise

Abbott Laboratories (NYSE:ABT)
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2 Months : From Dec 2019 to Feb 2020

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By Dave Sebastian

 

Abbott Laboratories (ABT) said its profit and sales rose in the fourth quarter.

The Abbott Park, Ill.-based maker of health-care products reported $8.31 billion in sales for the quarter, compared with $7.77 billion in the prior year. Analysts polled by FactSet were looking for $8.27 billion.

The company said sales for its medical devices rose 11% on an organic basis, led by double-digit organic sales growth in heart failure, electrophysiology, structural heart and diabetes care.

Sales in the company's established pharmaceuticals unit rose 10% on an organic basis from a year earlier. Its diagnostics segment sales rose 6.4% on an organic basis, while organic sales for its nutrition segment rose 5.8%.

Net income rose to $1.05 billion from $654 million in the year-ago period. Adjusted earnings were 95 cents a share, meeting analysts' expectations.

 

Write to Dave Sebastian at dave.sebastian@wsj.com

 

(END) Dow Jones Newswires

January 22, 2020 08:04 ET (13:04 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

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