Abbott beats second quarter profit forecast

July 16 Wed Jul 16, 2014 8:00am EDT

July 16 (Reuters) - Abbott Laboratories Inc on Wednesday reported better than expected second quarter earnings, helped by strong sales of its medical diagnostics products.

The company said it earned $466 million, or 30 cents per share, in the quarter. That compared with $476 million, or 30 cents per share, in the year-earlier period, when Abbott took charges for cost savings initiatives and other costs.

Excluding special items, Abbott earned 54 cents per share. Analysts, on average, expected 51 cents per share.

(Reporting by Ransdell Pierson, Editing by Franklin Paul)

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