Abbott beats forecasts, helped by cost cuts, low taxes
Oct 16 (Reuters) - Abbott Laboratories reported better than expected quarterly earnings despite disrupted sales of its infant formulas in China, helped by cost cuts and lower taxes.
The company, which spun off its branded prescription drugs business in January into a separate publicly traded company called AbbVie Inc, on Wednesday reported third-quarter earnings from continuing operations of $773 million, or 49 cents per share. That compared with $339 million, or 21 cents per share, in the year-earlier period.
Excluding special items, Abbott earned 55 cents per share. Analysts, on average, had expected 51 cents per share.
- Body of Korean boy who raised ferry alarm believed found |
- Children's corpses reveal desperate attempts to escape Korean ferry |
- U.S. mother, officials settle suit over airport breast milk
- Explosion shuts large natural gas processing plant in Wyoming
- UPDATE 2-Body of Korean boy who raised ferry alarm believed found