October 17, 2018 / 11:56 AM / a month ago

Abbott Labs quarterly profit falls 6.6 pct on tax expense

Oct 17 (Reuters) - Diversified healthcare company Abbott Laboratories reported a 6.6 percent drop in quarterly profit on Wednesday, hurt by higher tax expense on earnings.

The company said net earnings fell to $563 million, or 32 cents per share, in the third quarter ended Sept. 30, from $603 million, or 34 cents per share, a year earlier.

Net sales rose to $7.66 billion from $6.83 billion. (Reporting by Manas Mishra in Bengaluru; Editing by Arun Koyyur)

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