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Here's How Abbott Laboratories Increased Its Profits by 37% in Q1

TheMotleyFool

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Here's How Abbott Laboratories Increased Its Profits by 37% in Q1: https://g.foolcdn.com/editorial/images/677208/people-at-a-desk-looking-at-reports.jpg

Healthcare giant Abbott Laboratories (NYSE: ABT) reported quarterly earnings numbers last month, and the results were impressive with net earnings rising by 37% year over year. While investors may be tempted to dismiss the results as being largely due to strong COVID-19 testing volumes, the company's other businesses also generated positive growth.

What was really impressive was the company's ability to keep its costs under control and bank a significant chunk of that extra revenue as profit. Here's a closer look at what was behind the strong quarter.

Image source: Getty Images.

Source Fool.com

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