Abbott beats quarterly profit estimate on strong medical device demand

April 16 (Reuters) - Abbott Laboratories ABT.N beat Wall Street estimates for first-quarter profit on Wednesday, buoyed by strong demand for diabetes care and other medical devices.

The company also maintained its full-year profit forecast of $5.05 to $5.25 per share in the face of an escalating global trade war.

Abbott is likely to face a hit from the heavy duties imposed on other countries given its broad manufacturing footprint across the world, according to analysts.

On an adjusted basis, the company's quarterly profit of $1.09 per share beat analysts' average expectations of $1.07 per share, according to estimates compiled by LSEG.