ABBOTT PARK, Ill. (AP) _ Abbott Laboratories (ABT) on Wednesday reported third-quarter profit of $1.44 billion.

On a per-share basis, the Abbott Park, Illinois-based company said it had net income of 81 cents. Earnings, adjusted for one-time gains and costs, came to $1.15 per share.

The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 91 cents per share.

The maker of infant formula, medical devices and drugs posted revenue of $10.41 billion in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $9.58 billion.

Abbott expects full-year earnings in the range of $5.17 to $5.23 per share.

Abbott shares have decreased 25% since the beginning of the year, while the S&P's 500 index has declined 22%. The stock has fallen 10% 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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