Abbott Laboratories Q2 Profit Decreases, but beats estimates

(RTTNews) - Abbott Laboratories (ABT) released earnings for second quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $1.38 billion, or $0.78 per share. This compares with $2.02 billion, or $1.14 per share, in last year's second quarter.

Excluding items, Abbott Laboratories reported adjusted earnings of $1.89 billion or $1.08 per share for the period.

Analysts on average had expected the company to earn $1.05 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 11.4% to $9.98 billion from $11.26 billion last year.

Abbott Laboratories earnings at a glance (GAAP) :

-Earnings (Q2): $1.38 Bln. vs. $2.02 Bln. last year. -EPS (Q2): $0.78 vs. $1.14 last year. -Analyst Estimates: $1.05 -Revenue (Q2): $9.98 Bln vs. $11.26 Bln last year.

-Guidance: Full year EPS guidance: $4.30 to $4.50