July 17 (Reuters) - Abbott ABT.N beat Wall Street estimates for quarterly profit on Thursday, driven by strong demand for its medical devices including continuous glucose monitors.
Continuous glucose monitor makers such as Abbott, Dexcom DXCM.O and Medtronic MDT.N are riding a surge in demand as diabetes awareness rises, insurance coverage expands, and patients embrace finger-prick-free technology.
On an adjusted basis, the company reported a profit of $1.26 per share for the second quarter, compared with analysts' average estimate of $1.25, according to data compiled by LSEG.
Abbott's quarterly revenue came in at $11.1 billion, in line with expectations.
The medical device business, which sells diabetes and heart-related devices among others, posted sales of $5.37 billion, topping estimates of $5.24 billion.
Abbott said on Thursday it planned to build a manufacturing facility in the U.S state of Georgia by 2028 to support its cardiovascular business.
This adds to April announcements for manufacturing and research projects in Illinois and Texas, which are expected to go live by the end of the year, and help Abbott mitigate any likely impact from President Donald Trump's tariffs.
(Reporting by Puyaan Singh and Christy Santhosh in Bengaluru; Editing by Sriraj Kalluvila)
((Puyaan.Singh@thomsonreuters.com;))
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