ABBOTT PARK, Ill. (AP) _ Abbott Laboratories (ABT) on Wednesday reported first-quarter profit of $2.45 billion.

The Abbott Park, Illinois-based company said it had profit of $1.37 per share. Earnings, adjusted for amortization costs and non-recurring costs, came to $1.73 per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.47 per share.

The maker of infant formula, medical devices and drugs posted revenue of $11.9 billion in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $11.1 billion.

Abbott expects full-year earnings to be $4.70 per share.

Abbott shares have decreased 15% since the beginning of the year, while the S&P's 500 index has dropped slightly more than 6%. The stock has dropped roughly 4% 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

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