ABBOTT PARK, Ill. (AP) _ Abbott Laboratories (ABT) on Wednesday reported fourth-quarter net income of $2.16 billion.

On a per-share basis, the Abbott Park, Illinois-based company said it had net income of $1.20. Earnings, adjusted for one-time gains and costs, came to $1.45 per share.

The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.36 per share.

The maker of infant formula, medical devices and drugs posted revenue of $10.7 billion in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $9.91 billion.

For the year, the company reported profit of $4.5 billion, or $2.50 per share. Revenue was reported as $34.61 billion.

Abbott expects full-year earnings to be $5 per share.

Abbott shares have climbed nearly 5% since the beginning of the year, while the Standard & Poor's 500 index has risen 2.5%. The stock has risen 28% 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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