AbbVie (NASDAQ:ABBV) reported third-quarter earnings of $2.33 per share on Friday, which beat the analyst consensus estimate of $2.30 by 1.3%. This is an 8.9% increase over earnings of $2.14 per share from the same period last year.
The company reported quarterly sales of $8.479 billion, which beat the analyst consensus estimate of $8.38 billion by 1.18%, a 3% increase over sales of $8.236 billion the same period last year.
CEO Richard Gonzalez exulted, "Strong performance from our Immunology and Hematologic Oncology portfolios led our growth this quarter.
"We are also making excellent progress with several key strategic priorities, including the recent launch of our two new immunology therapies - Rinvoq and Skyrizi - both of which are off to an impressive start, as well as continued progress toward the completion of our planned acquisition of Allergan. Based on the continued momentum of our portfolio, we are once again raising our full year 2019 EPS guidance range and increasing our dividend."
Global net revenues from the hematologic oncology portfolio were $1.478 billion, an increase of 38.3% on a reported basis, or 38.5% operationally. Global IMBRUVICA net revenues were $1.257 billion, an increase of 29.3%, with U.S. net revenues of $1.042 billion and international profit sharing of $215 million.
AbbVie shares began Friday’s session gained 17 cents to $79.72. The stock has a 52-week high of $94.98 and a 52-week low of $62.66.
