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Abbott sales rise 7.2% as COVID test demand surges -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO. A screen with the Abbott Laboratories logo at New York Stock Exchange, NY, U.S.A, October 18, 2021. REUTERS/Brendan McDermid/File Photo

(Reuters) –Abbott Laboratories reported Wednesday a 7.2% increase in quarterly sales due to strong demand for diagnostics products including COVID-19 tests. This was mainly driven by a dramatic rise in Omicron cases.

Net earnings for the company fell to $1.99 Billion, or $1.11 per Share, during its fourth quarter ending Dec. 31, from $2.16Billion, $1.20 Per Share, one year ago.

Company sales reached $11.5 billion, an increase of $10.7 billion over the prior year.

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