ABBOTT PARK, Ill. (AP) _ Abbott Laboratories (ABT) on Thursday reported first-quarter net income of $564 million.

The Abbott Park, Illinois-based company said it had net income of 31 cents per share. Earnings, adjusted for one-time gains and costs, came to 65 cents per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 55 cents per share.

The maker of infant formula, medical devices and drugs posted revenue of $7.73 billion in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $7.13 billion.

Abbott shares have climbed roughly 5% since the beginning of the year, while the Standard & Poor's 500 index has fallen 14%. The stock has climbed 18% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ABT at https://www.zacks.com/ap/ABT

Automated Insights, source Associated Press News