Reuters logo
Abbott posts 29.7 pct rise in quarterly sales
April 19, 2017 / 11:59 AM / 8 months ago

Abbott posts 29.7 pct rise in quarterly sales

April 19 (Reuters) - Diversified healthcare company Abbott Laboratories reported a 29.7 percent rise in quarterly sales on Wednesday, driven by its $25 billion acquisition of St. Jude Medical.

Net sales of the company, which consummated its acquisition of St. Jude Medical earlier this year, rose to $6.34 billion from $4.89 billion.

Net profit from continuing operations came in at $843 million, or 22 cents per share, in the first quarter ended March 31, compared with $615 million, or 4 cents per share, a year earlier. The results also reflect St. Jude’s year-over-year results.

Last week, Abbott agreed to buy troubled diagnostics company Alere Inc at a lower price of around $5.30 billion, down from the about $5.80 billion announced in February last year, ending a prolonged legal battle. (Reporting by Akankshita Mukhopadhyay in Bengaluru; Editing by Martina D‘Couto)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below