ABBOTT PARK, Ill. (AP) - Abbott Laboratories (ABT) on Wednesday reported fourth-quarter net income of $654 million, after reporting a loss in the same period a year earlier.
The Abbott Park, Illinois-based company said it had net income of 37 cents per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to 81 cents per share.
The results met Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was also for earnings of 81 cents per share.
The maker of infant formula, medical devices and drugs posted revenue of $7.77 billion in the period, falling short of Street forecasts. Seven analysts surveyed by Zacks expected $7.79 billion.
For the year, the company reported profit of $2.37 billion, or $1.33 per share. Revenue was reported as $30.58 billion.
For the current quarter ending in April, Abbott expects its per-share earnings to range from 60 cents to 62 cents.
The company expects full-year earnings in the range of $3.15 to $3.25 per share.
Abbott shares have decreased 1 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 5 percent. The stock has increased 21 percent 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
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