Abbott reports 36% rise in quarterly profit on Omicron-driven testing demand

2022.04.20 14:51

FILE PHOTO: Packages of BinaxNOW COVID-19 Antigen Self Test, manufactured by Abbott Laboratories, are seen in a store in Manhattan, New York, U.S., November 12, 2021. REUTERS/Andrew Kelly/File Photo

(Reuters) – Abbott Laboratories (NYSE:ABT) reported a 36% rise in quarterly profit on Wednesday, boosted by an Omicron-led demand for its COVID-19 test kits and a recovery in elective procedures, which boosted demand for its medical devices.The company’s net earnings rose to $2.45 billion, or $1.37 per share, in the first quarter ended March 31, from $1.8 billion, or $1 per share, a year earlier.

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