|22 January, 2020

Abbott quarterly profit soars 60%

Net sales of the medical device maker rose 7% to $8.31bln.

Abbott Laboratories Inc reported a 60% rise in fourth-quarter profit on Wednesday, boosted by strong sales of its diabetes and heart devices.

The company's net earnings rose to $1.05 billion, or 59 cents per share, in the quarter ended Dec. 31, from $654 million, or 37 cents per share, a year earlier. 

Net sales of the medical device maker rose 7% to $8.31 billion.

(Reporting by Trisha Roy and Tamara Mathias in Bengaluru; Editing by Shinjini Ganguli) ((Trisha.Roy@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 7786))

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