By Dave Sebastian
Abbott Laboratories on Wednesday raised its earnings outlook for 2020 as it recorded higher third-quarter profit and sales due to demand for Covid-19 tests.
Abbott said it expects earnings from continuing operations of at least $2.35 a share, or at least $3.55 a share on an adjusted basis. It previously had expected earnings from continuing operations of at least $2 a share, or at least $3.25 a share on an adjusted basis.
The company said it forecasts $1.20 a share for the full year related to intangible amortization, acquisition-related expenses, restructuring and cost-reduction actions and other expenses.
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(END) Dow Jones Newswires