for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Abbott first-quarter profit surges on COVID-19 test demand

April 20 (Reuters) - Abbott Laboratories reported a more than threefold jump in quarterly profit on Tuesday, buoyed by robust demand for its COVID-19 test kits and growth in its diabetes and nutrition businesses.

The company’s net earnings rose to $1.8 billion, or $1 per share, in the first quarter ended March 31, from $564 million, or 31 cents per share, a year earlier.

Net sales increased to $10.5 billion from $7.73 billion.

Reporting by Amruta Khandekar and Mrinalika Roy in Bengaluru; Editing by Sriraj Kalluvila

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up