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AbbVie posts 3Q profit of $506 million, result tops expectations

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NORTH CHICAGO, Illinois — AbbVie Inc. (ABBV) on Friday reported earnings of $506 million in its third quarter.

On a per-share basis, the North Chicago, Illinois-based company said it had net income of 31 cents. Earnings, adjusted for non-recurring costs and amortization costs, came to 89 cents per share.

The results exceeded Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share.

The drugmaker posted revenue of $5.02 billion in the period.

AbbVie expects full-year earnings to be $3.25 to $3.27 per share.

AbbVie shares have climbed 16 percent since the beginning of the year, while the Standard & Poor's 500 index has risen almost 8 percent. The stock has climbed 25 percent in the last 12 months.

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Elements of this story were generated by Automated Insights using data from Zacks Investment Research. ABBV stock research report from Zacks.

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Keywords:AbbVie,Earnings Report

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