However, the company raised its guidance for the year adding that it saw gains on a constant currency basis across every segment.
Overall revenue was down 0.2% while its operational revenue, which excludes currency changes, was up 5.1%.
For the full year, Abbott said it is expecting its adjusted per share earnings to be between $2.14 and $2.24, which is up from its guidance released previously of between $2.10 and $2.20, which was below analyst expectations at that time.
Abbott shares were up 1.2% in trading before the opening bell on Wednesday. Shares are up 9.7% over the past three months.
For the recently ended quarter, Abbott posted $316 million in profit equal to 21 cents per share, which was down from last year during the same quarter of $2.29 billion equal to $1.51 per share.
The period for one year ago included a gain of $1.74 billion from a sale of an asset. Excluding that and special items per share earnings were 41 cents, which were down from 47 cents the prior year.
Revenue fell to just over $4.89 billion from last year’s $4.9 billion.
Analysts forecast per share adjusted earnings to be 39 cents with revenue reaching $4.78 billion.
Sales were up by 0.1% in its nutrition division, which is its largest. It recently launched infant and toddler baby food that is GMO free and its premium baby formula in China drove an increase of 4.3% on a basis of constant currency.
In the diagnostics division, sales were up 2.3% in actual sales and 6.9% higher using a constant currency method as its gains for infectious disease testing were offset by its pre-planned pullback in its genetics division.
In its established pharmaceutical division outside the U.S., sales dropped by 1% but gained over 11% when excluding fluctuations in currency.
India led in performance where it saw growth in double digits across a number of areas including gastroenterology, cardio-metabolics and women’s health.
Abbott like so many other companies with sales in foreign countries has had to push against headwinds from the strong U.S. dollar the past few quarters.