Abbott's third-quarter revenue rises nearly 3 percent

Markets Reuters

Traders gather at the booth that trades Abbott Laboratories on the floor of the New York Stock Exchange, December 10, 2012. REUTERS/Brendan McDermid/File Photo (Copyright Reuters 2016)

Abbott Laboratories , which is in the process of acquiring St. Jude Medical Inc , reported a nearly 3 percent rise in quarterly sales, fueled by strength in its generic drug and medical device businesses.

Continue Reading Below

Net loss from continuing operations was $329 million, or 24 cents per share, primarily due to an adjustment of 66 cents per share associated with Abbott's equity investment in Mylan NV .

Abbott sold its generic drugs business catering to developed markets to Mylan in 2014. Abbott earned $580 million, or 39 cents per share, a year earlier.

Net sales rose to $5.30 billion from $5.15 billion.

(Reporting by Natalie Grover in Bengaluru; Editing by Martina D'Couto)