AbbVie earnings for the fourth quarter of 2018 saw ABBV stock falling today.
AbbVie (NYSE:ABBV) reported earnings per share of $1.90 for the fourth quarter of the year. This is an increase over the company’s earnings per share of $1.48 from the same period of the year prior. However, it was bad news for ABBV stock by missing Wall Street’s earnings per share estimate of $1.94 for the quarter.
The most recent AbbVie earnings report also includes a net loss of $1.83 billion. This is a drop from the company’s net income of $52 million reported in the fourth quarter of 2017.
Operating loss reported in AbbVie earnings for the fourth quarter of 2018 came in at $2.44 billion. The biopharmaceutical company reported operating income of $1.78 billion during the same time last year.
The AbbVie earnings report for the fourth quarter of the year also has it bringing in revenue of $8.31 billion. This is up from the company’s revenue of $7.74 billion reported in the fourth quarter of the previous year. Despite this increase, it was still a blow to ABBV stock by coming in below analysts’ revenue estimate of $8.38 billion for the period.
The AbbVie earnings report for the fourth quarter of 2018 also includes its outlook for 2019. The company is expecting earnings per share for the year to range from $8.65 to $8.75. Wall Street is looking for earnings per share of $8.71 for the full year of 2019.
ABBV stock was down 6% as of Friday morning.
As of this writing, William White did not hold a position in any of the aforementioned securities.