AbbVie 3rd-qtr financials beat expectations
Shares of US pharma major AbbVie (NYSE: ABBV) edged up 2% to $193.12 today, after it announced financial results for the third quarter ended September 30, 2024.
Net revenue during the quarter rose by 3.8% on a reported basis versus the year-ago period to $14.46 billion, above estimates of $14.3 billion. Adjusted per-share income came in at $3.00 compared to Wall Street projections of $2.91.
Third-quarter diluted earnings per share (EPS) of $0.88 on a generally accepted accounting practices (GAAP) basis represent a decrease of 12.0%, adjusted Diluted EPS of $3.00, an increase of 1.7%. These results include an unfavorable impact of $0.04 per share related to acquired IPR&D and milestones expense. This was 3% above both consensus $2.92 and the high end of the guidance range of $2.88-$2.92.
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