UPDATE: Abbott Laboratories Reports 50% Surge In Q2 Net Income, Raises FY11 Earnings Forecast

Abbott Laboratories ABT reported a 50% rise in its Q2 net income. ABT's quarterly earnings jumped to $1.94 billion, or $1.23 per share, from $1.29 billion, or $0.83 per share, in the year-ago period. Its adjusted earnings came in at $1.12 per share. ABT's revenue surged to $9.62 billion from $8.83 billion. However, analysts were expecting earnings of $1.11 per share on revenue of $9.54 billion. Abbott raised its full-year earnings forecast range to $4.58 to $4.68 per share, versus analysts' estimates of $4.60 per share. ABT shares rose 1.15% to $53.50 in pre-market trading.