AbbVie Reports 3% Year-Over-Year Increase in Q3 Net Revenue and Raises Full-Year Adjusted EPS Guidance

Original Title: AbbVie (ABBV.US), a Leader in Medical Device and Drug R&D, Reports 3% YoY Increase in Q3 Net Revenue and Raises Full-Year Adjusted EPS Guidance Source: Zhitong Finance

Zhitong Finance APP learned that AbbVie (ABBV.US), a leader in medical device and pharmaceutical R&D, reported its Q3 results before the U.S. market opened on Friday (November 1). The results showed a 3% year-on-year increase in net revenue and a 31% year-on-year decrease in net profit. The company also raised its full-year 2019 adjusted earnings per share guidance, boosting its stock price slightly in pre-market trading. As of 20:25 Beijing time, the stock was up 0.88%, trading at $80.25.

According to the financial report, AbbVie’s global net revenue in the third quarter was $8.479 billion, a year-on-year increase of 3.0%. Net profit amounted to $1.884 billion, a year-on-year decrease of 31%. GAAP diluted earnings per share (EPS) were $1.26, compared to $1.81 in the same period last year; adjusted EPS were $2.33, compared to $2.14 in the same period last year.

Looking ahead, the company lowered its full-year 2019 GAAP diluted earnings per share (EPS) guidance from $5.69–$5.79 to $5.08–$5.10, while narrowing its full-year adjusted EPS guidance range from $8.82–$8.92 to $8.90–$8.92.