Abbott Laboratories reported a 36% rise in quarterly profit Wednesday, boosted by an omicron-led demand for its COVID-19 test kits and a recovery in elective procedures, which boosted demand for its medical devices.

The company's net earnings rose to $2.45 billion, or $1.37 per share, in the first quarter ended March 31, from $1.8 billion, or $1 per share, a year earlier.