AbbVie Inventory Skids On Blended Earnings Report, Narrowed 2022 Earnings View

AbbVie inventory slipped on Friday after the pharma large reported adjusted earnings of $3.66 per share on $14.81 billion in third-quarter gross sales.

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On common, analysts polled by FactSet anticipated AbbVie (ABBV) to earn $3.57 per share on $14.96 billion in gross sales. The corporate famous “short-term financial headwinds” hamstrung its aesthetics division, together with Botox face-filler and wrinkle-fighter Juvederm.

Within the year-earlier interval, AbbVie earned $2.83 per share on $14.34 billion in gross sales.

For the 12 months, AbbVie narrowed its earnings outlook to $13.84-$13.88 per share, however saved the identical midpoint. The corporate did not supply gross sales steering. AbbVie inventory analysts forecasted adjusted revenue of $13.85 per share and $58.92 billion in gross sales.

In premarket buying and selling on right now’s inventory market, AbbVie inventory skidded 3.3%, buying and selling close to 148.40.

Extra to observe.

Comply with Allison Gatlin on Twitter at @IBD_AGatlin.

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