Oct 15 (Reuters) - Abbott reported higher
quarterly revenue on Wednesday, driven by strong demand for its
medical devices including continuous glucose monitors and heart
devices.
Investor confidence in medical device makers has climbed in
recent quarters, underpinned by robust demand for surgical
procedures, particularly among older adults.
Total revenue rose 7.1% to $11.4 billion.
On an adjusted basis, third-quarter profit per share of
$1.30, in line with analyst's average estimate, according to
data compiled by LSEG.
The company now expects annual adjusted profit between $5.12
and $5.18 per share, compared to its previous range of $5.10 to
$5.20.
Its medical devices segment, which sells heart and diabetes
care devices, posted sales of $5.45 billion, beating estimates
of $5.34 billion.
(Reporting by Kamal Choudhury and Christy Santhosh in
Bengaluru; Editing by Sriraj Kalluvila)