AbbVie (ABBV) shares slide despite revenue beat
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AbbVie posts weak sales of newer drugs as Humira faces fresh competition, shares fall
April 27, 2023 7:48 AM EDTBy Patrick Wingrove and Leroy Leo
(Reuters) -AbbVie Inc on Thursday missed quarterly revenue estimates for its newer treatments, fueling concerns over the drugmaker's attempts to cushion the blow to sales from fresh competition for its flagship arthritis drug Humira.
The company's shares tumbled more than 8% as investors shrugged off a raised full-year profit forecast and focused on Humira's 25.2% sales decline and a weaker-than-expected performance by Skyrizi and Rinvoq.
In the first quarter, Humira recorded sales of $3.54 billion, below analysts' average estimate of $3.58 billion.
The company projected second-quarter net revenue of around $13.5 billion.
Humira, the... More
AbbVie (ABBV) Reports In-Line Q1 EPS, Offers Guidance
April 27, 2023 7:34 AM EDTAbbVie (NYSE: ABBV) reported Q1 EPS of $2.46, in-line with the analyst estimate of $2.46. Revenue for the quarter came in at $12.23 billion versus the consensus estimate of $12.18 billion.
GUIDANCE:
AbbVie sees FY2023 EPS of $10.72-$11.12, versus the consensus of $10.94.
For earnings history and earnings-related data on AbbVie (ABBV) click here.
... MoreAbbvie (ABBV) PT Raised to $165 at UBS
April 25, 2023 9:55 AM EDTUBS analyst Navin Jacob raised the price target on Abbvie (NYSE: ABBV) to $165.00 (from $152.00) while maintaining a Neutral rating.... More
