ABBOTT PARK, Ill. (AP) — ABBOTT PARK, Ill. (AP) — Abbott Laboratories (ABT) on Thursday reported second-quarter profit of $928 million.

The Abbott Park, Illinois-based company said it had net income of 53 cents per share. Earnings, adjusted for one-time gains and costs, were $1.31 per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.28 per share.

The maker of infant formula, medical devices and drugs posted revenue of $12.59 billion in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $12.48 billion.

For the current quarter ending in September, Abbott expects its per-share earnings to range from $1.38 to $1.46.

The company expects full-year earnings in the range of $5.45 to $5.60 per share.

Abbott shares have fallen 29% since the beginning of the year, while the S&P's 500 index has increased 11%. The stock has dropped 32% in the last 12 months.

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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