AbbVie edges higher as 3rd-qtr financials best estimates

29 October 2021

US drugmaker AbbVie (NYSE: ABBV) has announced better than expected financial results for the third quarter of 2021, pushing the firm’s shares up 2.9% to $112.60 before the opening bell this morning.

AbbVie delivered third-quarter net revenues of $14.342 billion, an Increase of 11.2% on a generally accepted accounting principles (GAAP) basis, just exceeding analysts; forecasts of $14.3 billion; adjusted net revenues increased 11.3% on a reported basis and 10.8% operationally.

Earnings per share (EPS) was $1.78 on a GAAP Basis, an Increase of 38.0% Percent; Adjusted Diluted EPS of $3.33, an Increase of 17.7%. beating the Zacks Consensus Estimate of $3.23 per share. Net earnings attributable to AbbVie for the quarter were $3.18 billion, up 38% versus $2.31 billion in the like year-earlier quarter.

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