Abbott quarterly profit plunges as COVID-19 batters medical device unit

Credit: REUTERS/Shailesh Andrade

July 16 (Reuters) - Abbott Laboratories ABT.N on Thursday reported a 46.6% fall in second-quarter profit as the COVID-19 pandemic continued to batter its medical device unit.

The company's net earnings fell to $$537 million, or 30 cents per share, in the quarter ended June 30, from $1 billion, or 56 cents per share, a year earlier.

Net sales fell to $7.33 billion from $7.98 billion.

(Reporting by Trisha Roy and Manojna Maddipatla in Bengaluru; Editing by Maju Samuel)

((Trisha.Roy@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6182 3635;))

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