AbbVie Inc. (NYSE:ABBV) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
AbbVie Inc. Earnings Cheat Sheet
Revenue: Rose 3.74% to $4.33 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: AbbVie Inc. reported adjusted EPS income of $0.68 per share. By that measure, the company beat the mean analyst estimate of $0. It beat the average revenue estimate of $0.66.
Quoting Management: “In our first quarter as an independent company, AbbVie delivered earnings per share above our original guidance,” said Richard A. Gonzalez, chairman and chief executive officer, AbbVie. “The business generated strong sales growth despite loss of exclusivity in our lipid franchise, which speaks to the foundation of AbbVie’s product portfolio. Additionally, we advanced our promising pipeline during the first quarter, with continued progress across our mid- and late-stage development programs.”
Key Stats (on next page)…
Revenue decreased 16.84% from $5.21 billion in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.69 to a profit $0.66. For the current year, the average estimate has moved down from a profit of $3.76 to $3.11 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)