Abbott Labs first-quarter sales ahead of expectations

Abbott Laboratories, whose products range from medical devices to infant nutritional formula posted net earnings of $672 million, or 38 cents per share, in the first quarter ended March 31, from $418 million, or 23 cents per share.

New Delhi: Abbott Laboratories Inc reported first-quarter sales ahead of Wall Street expectations on Wednesday, on double-digit growth of its Freestyle Libre glucose monitoring device and as more of its heart valves were used in surgical procedures.

"The decisions we made three, five, seven years ago - and the ones we're making today - are driving positive long-term outlooks for all of our businesses," said Chief Executive Officer Miles White.

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The company, whose products range from medical devices to infant nutritional formula, posted net earnings of $672 million, or 38 cents per share, in the first quarter ended March 31, from $418 million, or 23 cents per share.

Net sales rose to $7.54 billion from $7.39 billion. Analysts had expected $7.47 billion, according to IBES data from Refinitiv.

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