Abbott CEO Robert Ford said the great momentum in device and diagnostics sales during the quarter was due to improving market conditions in healthcare.
Rival J&J's (JNJ.N) medical device segment also topped estimates, aided by a recovery in demand for medical procedures.
Shares of rival medical device makers Medtronic (MDT.N) and Boston Scientific Corp (BSX.N) rose nearly 3%.
Abbott clocked quarterly sales for its medical devices at $4.3 billion, with $1.3 billion coming from diabetes device Freestyle Libre, beating analysts' estimates of $4.10 billion.
Abbott's adjusted profit of $1.08 per share in the quarter beat analysts' estimates of $1.05.
Persons:
Robert Ford, J, Shagun Singh, Abbott, Khushi Mandowara, Pooja Desai
Organizations:
Abbott Laboratories, RBC Capital Markets, Boston Scientific Corp, U.S, Thomson
Locations:
Michigan, Bengaluru