Abbott Laboratories said third-quarter 2018 adjusted earnings from continuing operations were up 13.6% year over year on a per share basis.

The company reported third-quarter adjusted earnings per share of 75 cents, up from 66 cents in the third quarter of 2017.

The S&P Global Market Intelligence normalized EPS consensus estimate for the quarter was 75 cents.

Abbott's adjusted earnings for the quarter totaled $1.34 billion, up from $1.16 billion in the prior year period.

Net sales for the quarter increased by 12.1% to $7.66 billion, compared to $6.83 billion in the year-ago period.

On a GAAP basis, Abbott reported earnings of $552 million, or 31 cents per share, from continuing operations, slightly down from $561 million, or 32 cents per share, in the third quarter of 2017.

Outlook for 2018

Abbott Laboratories narrowed its 2018 adjusted EPS guidance from continuing operations to a range of $2.87 to $2.89, which compares to $2.85 to $2.91 previously.

The S&P Global Market Intelligence normalized EPS consensus estimate for 2018 is $2.89.

Abbott also revised its GAAP EPS guidance from continuing operations to a range of $1.33 to $1.35, compared to $1.34 to $1.40 previously.