AbbVie, still fuelled by Humira, beats own and analysts’ forecasts

1 November 2014

Just a couple of weeks after abandoning its $54 billion “tax inversion” motivated takeover of Ireland-headquartered Shire (LSE: SHP), US drugmaker AbbVie (NYSE: ABBV) posted an impressive set of third-quarter 2014 financial results, sending the firm’s shares up 4.3% to a new record high of $63.79 early Friday afternoon and closing the day 3.7% higher at $63.46. The company has gained 20% this year, noted Bloomberg.

Revenues for the quarter increased 7.8% to $5.02 billion, surpassing the Zacks consensus estimate of $4.828 billion. Results were boosted by Humira's (adalimumab) strong performance. Earnings per share were $0.89, up 8.5% from the year-ago and surpassing the Zacks consensus estimate of $0.78 and the company’s own projection of $0.77-$0.79. Third-quarter net income fell to $506 million, or $0.31 a share, from $964 million, or $0.60, a year earlier.

AbbVie increases full-year guidance

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