Abbott Laboratories Q1 Profit Decreases, but beats estimates

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

The company's earnings totaled $1.318 billion, or $0.75 per share. This compares with $2.447 billion, or $1.37 per share, in last year's first quarter.

Excluding items, Abbott Laboratories reported adjusted earnings of $1.815 billion or $1.03 per share for the period.

Analysts on average had expected the company to earn $0.99 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 18.1% to $9.747 billion from $11.895 billion last year.

Abbott Laboratories earnings at a glance (GAAP) :

-Earnings (Q1): $1.318 Bln. vs. $2.447 Bln. last year. -EPS (Q1): $0.75 vs. $1.37 last year. -Analyst Estimates: $0.99 -Revenue (Q1): $9.747 Bln vs. $11.895 Bln last year.

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