AbbVie Reports Q4 Earnings Beat

AbbVie ABBV shares are trading higher on Friday after the company reported better-than-expected fourth-quarter EPS and sales results.

The company reported quarterly earnings of $2.21 per share, which beat the analyst consensus estimate of $2.19. This is a 16.32% increase over earnings of $1.9 per share from the same period last year.

AbbVie reported quarterly sales of $8.704 billion, which beat the analyst consensus estimate of $8.7 billion. This is a 4.8% increase over sales of $8.305 billion in the same period last year.

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The company also issued fiscal year 2020 EPS guidance above analyst estimates and sales. AbbVie sees fiscal year 2020 adjusted EPS $9.61-$9.71 versus the $9.48 estimate and sales growth at ~8%.

AbbVie shares were trading up 3.2% at $90 in Friday’s pre-market session. The stock has a 52-week high of $91.99 and a 52-week low of $62.66.