AbbVie edges up as 4th-qtr beats expectations

3 February 2021

AbbVie (NYSE: ABBV), which has recently completed its $63 billion acquisition of Allergan, today announced financial results for the fourth quarter and full year ended December 31, 2020, that beat Wall Street forecasts, and pushing the firm’s shares 1.8% higher to $105.33 by mid-morning.

Fourth-quarter worldwide net revenues were $13.858 billion, an increase of 59.2% percent on a reported basis, or an increase of 6.8% on a comparable operational basis. Analysts expected revenue of $13.70 billion for the period.

Net earnings attributable to the company for the fourth quarter dropped to $36 million or $0.01 per share from $2.80 billion or $1.88 per share last year. Adjusted profit of $2.92 per share beat the expectations of analysts polled by Thomson Reuters expected the company to report earnings of $2.85 per share for the fourth-quarter.

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