Despite sales and earnings downturn, AbbVie ups guidelines

27 October 2023

US pharma major AbbVie’s (NYSE: ABBV) shares were down 3.3% at $140.24 early today, after it released financial results for the third quarter of 2023.

The company reported that worldwide net revenues were $13.927 billion ffor the three months, a decrease of 6.0% on a reported basis, or 5.8% on an operational basis

Diluted earnings per share (EPS) in the third quarter were $1.00 on a generally accepted accounting principles (GAAP) basis. Adjusted diluted EPS, excluding specified items, was $2.95. These results include an unfavorable impact of $0.04 per share related to acquired IPR&D and milestones expense.

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