AbbVie Raises Annual Profit Outlook As Newer Immunology Drugs Help Cushion Struggling Humira Sales
Portfolio Pulse from Vandana Singh
AbbVie Inc has reported Q3 adjusted EPS of $2.95, down 19.4% Y/Y, beating the consensus of $2.88. Overall sales decreased 6% Y/Y to $13.93 billion, beating the consensus of $13.70 billion. The company's immunology portfolio generated $6.78 billion in sales, down 11.3%. AbbVie raised its FY23 and FY24 adjusted EPS guidance. The company's shares are down 3.73% at $139.78.
October 27, 2023 | 1:56 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
AbbVie reported Q3 EPS of $2.95, beating consensus, but overall sales and immunology portfolio sales were down. The company raised its FY23 and FY24 EPS guidance. Shares are down 3.73%.
AbbVie's Q3 earnings beat the consensus, but the decrease in overall sales and immunology portfolio sales could negatively impact investor sentiment. The raised EPS guidance for FY23 and FY24 might mitigate some of the negative impact, but the immediate reaction in the stock price suggests a negative short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100