Abbott Laboratories Q4 Profit Decreases, but beats estimates

(RTTNews) - Abbott Laboratories (ABT) revealed a profit for fourth quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $1.03 billion, or $0.59 per share. This compares with $1.99 billion, or $1.11 per share, in last year's fourth quarter.

Excluding items, Abbott Laboratories reported adjusted earnings of $1.81 billion or $1.03 per share for the period.

Analysts on average had expected the company to earn $0.92 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 12.0% to $10.09 billion from $11.47 billion last year.

Abbott Laboratories earnings at a glance (GAAP) :

-Earnings (Q4): $1.03 Bln. vs. $1.99 Bln. last year. -EPS (Q4): $0.59 vs. $1.11 last year. -Analyst Estimates: $0.92 -Revenue (Q4): $10.09 Bln vs. $11.47 Bln last year.