UPDATE: Abbott Laboratories Reports 12% Rise In Q4 Profit

Abbott Laboratories (NYSE: ABT) reported a 12% rise in its fourth-quarter profit.

Abbott Laboratories' quarterly profit surged to $1.62 billion, or $1.02 per share, from $1.44 billion, or $0.92 per share, in the year-earlier period. Its adjusted earnings came in at $1.45 per share. Its revenue gained 4% to $10.38 billion. However, analysts were expecting earnings of $1.44 per share on revenue of $10.59 billion.

Abbott projects 2012 adjusted earnings of $4.95 to $5.05 per share, versus analysts' estimates of $5.02 per share.

Abbott Laboratories shares fell 0.54% to $55.68 in pre-market trading.