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AbbVie (ABBV) Reports In-Line Q3 Earnings, Revenues Miss
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North Chicago, IL-based AbbVie Inc. (ABBV - Free Report) is best known for its autoimmune disease drug, Humira. Other key products include Imbruvica (cancer) and Viekira Pak (hepatitis C virus (HCV) treatment).
Humira, the company’s flagship product which is approved for a wide range of indications, is a major contributor to AbbVie’s top line. While Humira will remain the key growth driver at AbbVie, the coming quarters will see investor focus remaining primarily on Viekira’s performance as well as pipeline updates.
Meanwhile, the Pharmacyclics acquisition has diversified AbbVie’s product portfolio with the addition of Imbruvica.
AbbVie’s performance has been pretty impressive, with consistent positive surprises. The average earnings beat over the last four quarters is 3.32%.
Currently, AbbVie has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: AbbVie's third quarter earnings came in at $1.21 per share, in-line with the Zacks Consensus Estimate.
Revenues: AbbVie posted revenues of approximately $6.43 billion, missing the Zacks Consensus Estimate of $6.55 billion.
Key Stats: Humira sales came in at $4.1 billion. Third-quarter Imbruvica sales were $501 million. Viekira sales were $378 million in the third quarter.
Ups 2016 Outlook: AbbVie raised its 2016 EPS outlook to $4.80 – $4.82 (old guidance: $4.73 – $4.83 per share). The Zacks Consensus Estimate is currently $4.82 per share.
Check back later for our full write up on this AbbVie earnings report.
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AbbVie (ABBV) Reports In-Line Q3 Earnings, Revenues Miss
North Chicago, IL-based AbbVie Inc. (ABBV - Free Report) is best known for its autoimmune disease drug, Humira. Other key products include Imbruvica (cancer) and Viekira Pak (hepatitis C virus (HCV) treatment).
Humira, the company’s flagship product which is approved for a wide range of indications, is a major contributor to AbbVie’s top line. While Humira will remain the key growth driver at AbbVie, the coming quarters will see investor focus remaining primarily on Viekira’s performance as well as pipeline updates.
Meanwhile, the Pharmacyclics acquisition has diversified AbbVie’s product portfolio with the addition of Imbruvica.
AbbVie’s performance has been pretty impressive, with consistent positive surprises. The average earnings beat over the last four quarters is 3.32%.
Currently, AbbVie has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: AbbVie's third quarter earnings came in at $1.21 per share, in-line with the Zacks Consensus Estimate.
Revenues: AbbVie posted revenues of approximately $6.43 billion, missing the Zacks Consensus Estimate of $6.55 billion.
Key Stats: Humira sales came in at $4.1 billion. Third-quarter Imbruvica sales were $501 million. Viekira sales were $378 million in the third quarter.
Ups 2016 Outlook: AbbVie raised its 2016 EPS outlook to $4.80 – $4.82 (old guidance: $4.73 – $4.83 per share). The Zacks Consensus Estimate is currently $4.82 per share.
ABBVIE INC Price
ABBVIE INC Price | ABBVIE INC Quote
Check back later for our full write up on this AbbVie earnings report.
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>