Abbott Reports Better-Than-Expected Earnings

Features Reuters

Abbott Laboratories reported better-than-expected quarterly earnings on Wednesday as strong demand for its nutritional products offset lower sales of medical devices and generic prescription drugs.

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The company, which in January spun off its branded prescription drugs business into a new company called AbbVie Inc , earned $476 million, or 30 cents per share, from continuing operations, compared with $411 million, or 26 cents per share, in the year-earlier period.

Excluding special items, Abbott earned 46 cents per share. Analysts, on average, expected 44 cents, according to Thomson Reuters I/B/E/S.