Laura Spencer (also Collins) is a fictional character from General Hospital, an American soap opera on the ABC network. Laura, originally played by Stacey Baldwin, was introduced in 1974 as the illegitimate daughter of Lesley Webber (Denise Alexander). The character was written out in the summer of 1976. In early 1977, Genie Francis took over the role of the rebellious teenage Laura. In 1978, thanks to the efforts of executive producer Gloria Monty's plan to entice younger viewers, the character's popularity skyrocketed in the late 1970s and early 1980s due to her pairings with Scott Baldwin (Kin Shriner) and, most famously, Luke Spencer (Anthony Geary); the latter became a popular supercouple among soap opera fans and viewers. Luke and Laura's 1981 wedding – which featured a guest appearance from Elizabeth Taylor – was viewed by 30 million people. In 1981, Francis quit the show, claiming unequal treatment compared to Geary, and the character was written out as having disappeared the following January. Francis returned for a brief stint in late 1983 to reunite Luke and Laura, and then again in late 1984 when Laura was revealed to be pregnant.

In 1993, Laura was re-introduced by producer Wendy Riche, along with Luke and their young son Lucky Spencer (Jonathan Jackson). Their stories consisted of their struggle to hide from mobster Frank Smith, the 1994 birth of their daughter Lulu Spencer and the introduction of Laura's illegitimate son Nikolas Cassadine (Tyler Christopher), who comes to town to save an ailing Lulu. Francis quit the series in 2002, and Laura was written out after suffering a psychotic breakdown, after believing to have killed her adoptive father Rick Webber (Chris Robinson). Francis returned in 2006 to celebrate Luke and Laura's 25th wedding anniversary. The return stint, which only lasted a month, featured Laura's reunions with her children, Nikolas, Lucky (Greg Vaughan), and Lulu (Julie Marie Berman), and Laura's renewal of her wedding vows with Luke on their anniversary date. The return garnered Francis the Daytime Emmy Award for Outstanding Supporting Actress in a Drama Series. Francis returned to the series again in 2008 to help Lulu, who had also been institutionalized. In 2013, in honor of the show's 50th anniversary celebration, Francis reprised the role of Laura when the writers revisited the iconic Ice Princess plot, and Laura was briefly remarried to Scott. Although initial reports said the actress would stick around, Francis left the role again that August. Francis returned to the series in 2015, this time as part of Luke's exit storyline. Francis later signed a deal for her to remain with the series indefinitely.

In 1974, Dr. Lesley Williams (Denise Alexander) is shocked to learn that one of her patients, Florence Grey (Anne Collings) is actually the wife of her former lover Professor Gordon Grey (Sherman Howard) who had fathered her deceased daughter. Gordon wants to be with Lesley, but she convinces him to stay with his wife and they eventually leave town. Lesley then marries the wealthy Cameron Faulkner (Don Matheson), only to learn from dying patient Doris Roach (Meg Wyllie), a former nurse at General Hospital, that her daughter is actually alive. Lesley's father had paid Doris to switch Lesley's healthy baby with the deceased child of Jason Vining (Richard Rust) and his wife Barbara (Judy Lewis). Jason, a teacher, struggles to make ends meet to take care of his family. Laura (Stacey Baldwin) hopes for a new typewriter for Christmas in 1975, but Barbara has to tell her 'no' because they can't afford it. Lesley's determination to make contact with Laura puts a strain on her marriage. Lesley is overjoyed when she finally sees Laura for the first time at a candy store. Lesley follows her to a park and Laura is captivated when they meet. Lesley promises to buy Laura a new bike and a new typewriter, making Amy jealous and the Vinings uneasy. Lesley finally confesses that Laura is her daughter and Laura is thrilled. Lesley launches a custody suit and the judge postpones the final decision to allow Laura to get to know her biological mother first. Lesley receives temporary custody of Laura for 30 days. Though Laura enjoys her new life, she is not sure about making it permanent. At Laura's request, the judge extends the trial period for another 30 days. Laura becomes ill and Lesley's psychiatrist colleague, Dr. Peter Taylor (Craig Huebing), deems that it is due to emotional stress. Lesley makes the devastating choice to call off the custody suit and sends Laura back to live with the Vinings. In an attempt to keep Laura out of his life permanently, Cameron pays a nurse to claim that Laura was not Lesley's daughter after all. Fortunately, Lesley knows this is a lie. In the summer of 1976, Cameron pays the Vinings to leave town with Laura for good.

In February 1977, Lesley tracks down a bitter Laura living in a commune in Canada. Laura mistakenly blames Lesley for abandoning her. Lesley tells Laura of Cameron's schemes and convinces her to come home with her. The commune leader threatens them, however, forcing Lesley's friend and love interest, Dr. Rick Webber (Michael Gregory), to rescue them. Laura falls for law student Scott Baldwin, and is so distraught when he rejects her that she starts an affair with Rick's friend, David Hamilton (Jerry Ayres). Laura accidentally causes David's death when he rejects her for Lesley. Laura does not remember the incident and Lesley confesses to the murder. When Lesley is convicted, Laura confesses and is sentenced to probation. As her life spirals out of control, Scott and Laura reunite and become engaged on her 17th birthday. After they wed, Laura must get a job to help Scott pay for law school.

Laura ends up working for Luke Spencer at the campus disco. Luke is managing the campus disco for mobster Frank Smith, who orders Luke to kill a local senator. Luke declines to do so. As Laura tries to comfort a distressed Luke, he rapes her. Although Laura forgives him, the rape ignites a lifelong feud between Luke and Scott. Laura initially tries to avoid Luke, but they continue to end up together when they both start working at ELQ.

In 1979, Luke and Laura end up on the run and solve the mystery of the left-handed boy. The duo later teams up again to stop Mikkos Cassadine (John Colicos) from freezing the world. Now realizing how much they love each other, Laura divorces Scott in 1981 and marries Luke shortly after, while Mikkos's widow, Helena (Elizabeth Taylor) puts a curse on the couple for her husband's death. Laura's friend, Tiffany Hill (Sharon Wyatt) gets Laura a modeling job as "Ms. Star Eyes," but Laura suddenly disappears after being kidnapped by David Gray (Paul Rosilli) and presumed dead.

In 1983, it is revealed that Laura is being held by Mikkos and Helena's son, Stavros (John Martinuzzi), who has convinced Laura that Luke is dead. Sick of her son's obsession, Helena reveals that Luke is alive and allows Laura to escape. A confrontation with Luke ends with Stavros's death. The couple attempted to settle into their roles in politics, but found the roles stifling. They decided to leave Port Charles that year in order to see the world.

In 1984, Robert helped Luke when he was accused of murder in Mexico so that Luke would be free to be with Laura. When Luke was finally cleared, he returned to Laura, who announced the joyous news that she was pregnant. The Spencers immediately shared their news with their friends. With the revelation, Luke and Laura made what seemingly would be their last appearance on General Hospital. In the following years, passing references to the couple would be made by several characters.