NORTH CHICAGO, Ill. (AP) — NORTH CHICAGO, Ill. (AP) — AbbVie Inc. (ABBV) on Friday reported third-quarter profit of $1.78 billion.
The North Chicago, Illinois-based company said it had profit of $1 per share. Earnings, adjusted for amortization costs and asset impairment costs, came to $2.95 per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.86 per share.
The drugmaker posted revenue of $13.93 billion in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $13.7 billion.
AbbVie expects full-year earnings in the range of $11.19 to $11.23 per share.
AbbVie shares have fallen 10% since the beginning of the year, while the S&P's 500 index has increased nearly 8%. The stock has dropped roughly 5% 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