NORTH CHICAGO, Ill. (AP) — NORTH CHICAGO, Ill. (AP) — AbbVie Inc. (ABBV) on Wednesday reported third-quarter profit of $1.56 billion.
On a per-share basis, the North Chicago, Illinois-based company said it had net income of 88 cents. Earnings, adjusted for non-recurring costs and amortization costs, were $3 per share.
The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $2.92 per share.
The drugmaker posted revenue of $14.46 billion in the period, also beating Street forecasts. Nine analysts surveyed by Zacks expected $14.28 billion.
AbbVie expects full-year earnings in the range of $10.90 to $10.94 per share.
AbbVie shares have climbed 22% since the beginning of the year, while the S&P’s 500 index has risen 22%. The stock has increased 34% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ABBV at https://www.zacks.com/ap/ABBV
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