AbbVie (ABBV), released its earnings for the fourth quarter of the year, revealing a decrease from the previous year, but surpassing projections set by Wall Street.
The company's profit amounted to $822 million, or $0.46 per share, a decrease in comparison to last year's fourth quarter results of $2.473 billion, or $1.38 per share.
Upon adjusting for specific items, AbbVie posted adjusted profits of $4.959 billion or $2.79 per share for this period. These figures surpassed the average estimate predicted by analysts who anticipated the company to earn $2.77 per share. These predictions, compiled by Thomson Reuters, typically dismiss special items.
AbbVie's revenue for the quarter fell by 5.4%, landing at $14.301 billion compared to $15.121 billion the previous year.
To summarize, AbbVie's earnings (on a GAAP basis) showed earnings for Q4 at $822 million compared to $2.473 billion the previous year and EPS for Q4 at $0.46 compared to $1.38 last year. This surpassed analyst estimates of $2.77. The revenue for Q4 was $14.301 billion, compared to $15.121 billion the previous year.
