Abbott profit beats forecast, but sales disappoint

Oct 17 (Reuters) - Abbott Laboratories Inc reported mixed quarterly results, with earnings topping forecasts but sales coming in below Wall Street estimates.

Abbott on Wednesday said it earned $1.94 billion, or $1.21 per share, in the third quarter, compared with $303 million, or 19 cents per share, in the year-earlier period, when the company took a $1.4 billion litigation charge.

Excluding special items, Abbott earned $1.30 per share. Analysts, on average, expected $1.28, according to Thomson Reuters I/B/E/S.

Revenue was $9.77 billion, below Wall Street expectations for $9.93 billion.

In January Abbott plans too spin off its branded drugs business into a publicly traded company called AbbVie