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10/21/2020, 1:33 PM (Source: TeleTrader)
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Abbott Labs' revenue soars 9.6% to $8.9B in Q3

Abbott Laboratories unveiled on Wednesday that its revenue in the third quarter of fiscal 2020 stood at $8.9 billion, after a 9.6% jump compared to the same period the year before.

During the same period, Abbott's diluted earnings per share (EPS) from continuing operations surged to $0.69 the report showed and unveiled that the company's EPS, excluding specified items, jumped 16.7% on a yearly basis to reach $0.98. The company's net income for the three-month period ended September 30 reached $1.2 billion, after surging 28.5% on an annual basis. Most of the upward trend was be attributed to sales growth in Medical Devices and Diagnostics.

"Our strong results and increased guidance are a direct reflection of our ability to innovate and deliver despite challenging conditions," Abbott's CEO Robert Ford asserted, stressing that the firm is "well-positioned to finish the year with a lot of momentum."

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