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Abbott beats profit estimate on diagnostics, diabetes device boost By Reuters

Abbott beats profit estimate on diagnostics, diabetes device boost

© Reuters. FILE PHOTO: Abbott Laboratories logo is displayed on a screen at the New York Stock Exchange (NYSE) in New York City, U.S., October 18, 2021. REUTERS/Brendan McDermid/File Photo

(Reuters) – Abbott Laboratories (NYSE:)’ quarterly profit beat analysts’ expectations on Wednesday, aided by strong demand for its diagnostics business and glucose monitoring device FreeStyle Libre.

Excluding one-off items, the healthcare giant reported a profit of $1.03 per share for the fourth quarter ended Dec. 31, higher than the average of analysts’ estimate of 92 cents.

The company also announced an adjusted profit forecast of $4.30 to $4.50 per share for 2023.

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