AbbVie Posts an Earnings Beat but Forecast Misses as Competition Intensifies

AbbVie

reported quarterly earnings that beat analysts’ estimates but revenue below consensus as sales for many of its drugs declined from the prior year. The company’s full-year earnings forecast also missed estimates.

AbbVie

(ticker: ABBV) reported adjusted fourth-quarter earnings of $3.60 a share on revenue of $15.12 billion, compared to year-earlier profit of $3.08 a share on sales of $14.89 billion. Analysts surveyed by FactSet were expecting earnings of $3.56 a share on sales of $15.33 billion.