July 18, 2014
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Abbott reports positive second-quarter financial results

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Abbott reported a second-quarter ongoing EPS of $0.54, marking a growth of 17.4% above the previous guidance range of $0.50 to $0.52, according to a company press release.

The company also reported diluted EPS of $0.30 from continuing operations under GAAP.

Abbott plans to raise its full-year 2014 ongoing EPS guidance from $2.16 to $2.26 up to $2.19 to $2.29. There is currently a projected full-year 2014 EPS of $1.16 to $1.26 from continuing operations under GAAP, according to the release.

Abbott’s second-quarter worldwide sales increased 3% on an operational basis and 1.9% on a reported basis, which included a 1.1% effect of foreign exchange.

Plans to sell developed markets branded generics pharmaceuticals business to Mylan may positively impact Abbott’s 2015 sales and earnings-per-share growth rates, according to the release.