Abbott quarterly profit soars 60%

(Reuters) – Abbott Laboratories Inc (N:) reported a 60% rise in fourth-quarter profit on Wednesday, boosted by strong sales of its diabetes and heart devices.

The company’s net earnings rose to $1.05 billion, or 59 cents per share, in the quarter ended Dec. 31, from $654 million, or 37 cents per share, a year earlier.

Net sales of the medical device maker rose 7% to $8.31 billion.

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