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AbbVie Earnings Edge Past Views With Stock Right At Buy Point

Business

AbbVie stock fell Friday after the pharma company reported adjusted earnings of $3.11 per share on $13.96 billion in second-quarter sales.

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On average, analysts polled by FactSet expected AbbVie (ABBV) to earn $3.08 a share on $13.63 billion in sales.

In the year-earlier period, AbbVie earned $2.34 per share and reported $10.43 billion in sales.

For the year, AbbVie expects per-share earnings of $12.52-$12.62 vs. its prior target of 12.37-$12.57, lifting the midpoint by a dime to $12.57. Analysts called for profit of $12.60 per share and $55.91 billion in sales.

On the stock market today, AbbVie stock fell 2.2% to close at 116.30. Shares had closed Thursday just above 118.38 buy point out of a flat base, according to MarketSmith.com.

Follow Allison Gatlin on Twitter at @IBD_AGatlin.

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