AbbVie Inc (NYSE:ABBV) has released its earnings report for the third quarter of 2017.
Here are a few things to know about AbbVie Inc’s recent earnings report.
- The company reported earnings per share of $1.41 on revenue of $7.00 billion.
- Earnings per share and revenue from the same time last year were $1.21 and $6.43 billion.
- Wall Street was looking for ABBV to report earnings per share of $1.38 on revenue of $7.00 billion for the quarter.
- Operating income for the quarter was $2.71 billion, which is up from the $2.36 billion reported in the third quarter of 2016.
- Net income was $1.63 billion compared to net income of $1.60 billion in the same period of the year prior.
- AbbVie Inc updated its 2017 guidance to include earnings per share ranging from $5.53 to $5.55.
- Wall Street is expecting ABBV to report earnings per share of $5.53 for the year.
- The biopharmaceutical research company also says that it is expecting earnings per share for 2018 to come in between $6.37 and $6.57.
- Analysts are looking for the company to report earnings per share of $6.56 in 2018.
- The company also notes that its Board of Directors have approved increasing its quarterly cash dividend to 71 cents per share from 64 cents per share.
- The increase to the quarterly cash dividend for holders of ABBV stock will start with the dividend payable on Feb. 15, 2018.
- Investors of ABBV must be on record as of Jan. 12, 2018 to receive the quarterly cash dividend.
ABBV stock was up 3% as of noon Friday and is up 48% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.