AbbVie (NYSE:ABBV) earnings for the biopharmaceutical company’s fourth quarter of 2019 have ABBV stock heading higher on Friday. This is thanks to its adjusted earnings per share (EPS) of $2.21, which beats out Wall Street’s estimate of $2.19 per share. Also, the company’s 4Q revenue of $8.70 billion comes in just above analysts’ estimates of $8.69 billion.
Here’s what else is worth mentioning from the most recent AbbVie earnings report.
- Adjusted EPS for the quarter is up around 16.328.305% from $1.90 during the same time last year.
- Revenue comes in 4.69% higher than the $8.31 billion reported in the fourth quarter of 2018.
- Operating income of $3.96 billion is a major improvement year-over-year from a loss of -$2.44 billion.
- The AbbVie earnings report also includes a net income of $2.80 billion.
- That’s a boon to the company by switching from its net loss of -$1.83 billion from the same period of the year prior.
Richard Gonzalez, Chairman and CEO of AbbVie, had this to say about the Q4 ABBV stock earnings report:
“Our strong performance this quarter completes another excellent year for AbbVie. The launches of Skyrizi and Rinvoq are going extremely well, and we are entering 2020 with substantial momentum. We also look forward to completing the planned Allergan acquisition in the first quarter.”
The AbbVie earnings report also includes an outlook for the full year of 2020. It covers adjusted per-share earnings of $9.61 to $9.71. That’s great news for ABBV stock, with Wall Street only expecting $9.48 per share for 2020.
ABBV stock was up more than 6% as of Friday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.
