Why AbbVie Stock Stumbled Today Despite the Earnings Beat [Yahoo! Finance]
AbbVie Inc. (ABBV)
Last abbvie inc. earnings: 5/1 07:43 am
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Source: Yahoo! Finance
The decline in sales of multi-indication immunosuppressive drug Humira -- a natural result of its loss of patent exclusivity -- is taking shape at a slower pace than was initially feared. The company even upped its full-year profit outlook. But AbbVie stock fell all the same, closing Friday's session down by 4.6%, capping off more than a 12% tumble from last month's high. Life after Humira's patent expiration Giving credit where it's due, Skyrizi and Rinvoq -- the drugs AbbVie developed to replace Humira -- are performing as hoped. Sales of the former improved 47.6% year over year in Q1, while the latter's revenue was up 59.3%, offsetting Humira's 35.9% sales dip. All told, AbbVie's top line was flat year over year at $12.3 billion, while its earnings of $2.31 per share were down from $2.46 per share a year prior. The analysts' consensus estimates had only called for a profit of $2.23 per share on revenue of $11.9 billion. The drugmaker now anticipates its earnings per share f
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ABBV
Earnings
- 4/26/24 - Miss
ABBV
Sec Filings
- 5/3/24 - Form 10-Q
- 4/26/24 - Form 8-K
- 4/3/24 - Form 8-K
- ABBV's page on the SEC website