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Abbott quarterly profit beats as COVID-19 tests cushion virus impact

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coronavirus tests to help it sail over virus-led challenges. It has since March won US authorization for five coronavirus tests, including two antibody tests, an automated test used in labs and a test that can deliver results within minutes and is used at the White House.Excluding items, the company earned 57 cents per share, beating consensus of 42 cents per share, according to Refinitiv IBES data.Abbott's diagnostics unit, which also sells its newly authorized COVID-19 tests, brought in sales of $1.99 billion in the second quarter, a 4.7% jump from a year earlier.The company, which suspended its full-year forecast in April due to uncertainties about the extent of impact from the outbreak, said it now sees adjusted earnings of at least.

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