AbbVie slips after weak financial results statement

25 January 2019

Shares in Chicago’s AbbVie (NYSE: ABBV) are down about 3% in pre-market trading, after the firm announced slightly lower-than-expected revenue figures in its fourth quarter and full year financial results statement. The shares were down 6.9% at $79.94 by mid-morning.

Following generally accepted accounting principles (GAAP), the net revenue figure for the fourth quarter was $8.3 billion, up 7.3%. On the same basis, revenues for the whole year were $32.8 billion.

AbbVie posted a fourth quarter loss of $1.8 billion or $1.2 per share, down from a net income of $52 million or $0.03 per share for the same period in 2017. The results included a write-off of certain intangible assets related to its 2016 acquisition of Stemcentrx. The adjusted earnings per share figure was $1.90, up 28%.

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