|16 October, 2019

Abbott Labs quarterly profit rises 70.5%

Net sales rose to $8.08bln from $7.66bln.

Abbott Laboratories Inc reported a 70.5% jump in quarterly profit on Wednesday, powered by demand for its blood sugar monitors and cardiovascular devices.

The company's net earnings rose to $960 million, or 53 cents per share, in the third quarter ended Sept. 30, from $563 million, or 32 cents per share, a year earlier.

Net sales rose to $8.08 billion from $7.66 billion.

(Reporting by Trisha Roy and Saumya Sibi Joseph in Bengaluru; Editing by Sriraj Kalluvila) ((Trisha.Roy@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 7786))

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