AbbVie Tops Q3 Expectations As Skyrizi, Rinvoq Drive Growth
Portfolio Pulse from Vandana Singh
AbbVie Inc. (NYSE:ABBV) reported strong Q3 results, with adjusted EPS of $3.00 and net revenues of $14.46 billion, both beating expectations. Key growth drivers were Skyrizi and Rinvoq, with sales up 50.8% and 45.3% respectively. AbbVie also increased its dividend and announced the acquisition of Aliada Therapeutics. The company raised its 2024 EPS guidance, reflecting confidence in future growth.
October 30, 2024 | 2:17 pm
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AbbVie reported better-than-expected Q3 earnings, driven by strong sales of Skyrizi and Rinvoq. The company increased its dividend and announced the acquisition of Aliada Therapeutics. AbbVie also raised its 2024 EPS guidance.
AbbVie's Q3 results exceeded expectations, with significant growth in key products Skyrizi and Rinvoq. The dividend increase and acquisition of Aliada Therapeutics signal confidence in future growth. The raised 2024 EPS guidance further supports a positive outlook, likely boosting investor sentiment and stock price in the short term.
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