AbbVie jumps based on strong financial results

7 February 2020

Chicago, USA-based drugmaker AbbVie (NYSE: ABBV) has reported revenues of $8.7 billion for the fourth quarter of 2019, a rise of 4.8%, slightly beating analysts’ expectations. For the full year, revenues were $33.2 billion.

Net profit came in at $2.8 billion, equating to earnings per share of $1.88. Following generally accepted accounting principles (GAAP), earnings per share came in at $5.28 for 2019, an increase of 44.3%.

Shares in the drugmaker rocketed nearly 5% in morning trading, as the firm said it is anticipating closing its pending $63 billion buy of Ireland-incorporated Allergan (NYSE: AGN) this quarter.

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