Abbott Laboratories raised its full-year adjusted earnings per share outlook to $5.45 to $5.60, up from $5.38 to $5.58, citing strength in its diagnostics business. The healthcare company reported second-quarter profit of $928 million, or 53 cents a share, down from $1.78 billion, or $1.01 a share, a year earlier. Excluding one-time items, adjusted per-share earnings were $1.31, surpassing the $1.28 consensus estimate from analysts surveyed by FactSet.

Revenue increased 13% to $12.59 billion, ahead of the $12.52 billion forecast. Comparable sales growth was 4.8%. The results reflect higher demand for diagnostic tests, offsetting declines in other segments. Management highlighted continued momentum in core businesses and reiterated confidence in the updated guidance range.