AbbVie 3Q Adjusted Profit, Revenue Beat Expectations
November 01 2019 - 8:37AM
Dow Jones News
By Dave Sebastian
AbbVie Inc. (ABBV) posted lower third-quarter profit as expenses
rose, though adjusted profit and revenue beat analysts'
expectations.
The biopharmaceutical company reported profit of $1.88 billion,
or $1.26 a share, compared with $2.75 billion, or $1.81 a share, in
the comparable quarter last year.
Adjusted earnings were $2.33 a share, compared with $2.14 a
share a year ago. Analysts polled by FactSet were expecting $2.30 a
share.
Revenue grew to $8.48 billion from $8.24 billion in the same
period last year. Analysts estimated $8.38 billion in revenue.
Operating costs and expenses grew to $5.86 billion from $5.08
billion a year ago.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
November 01, 2019 08:22 ET (12:22 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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