NORTH CHICAGO, Ill. (AP) — NORTH CHICAGO, Ill. (AP) — AbbVie Inc. (ABBV) on Friday reported fourth-quarter net income of $822 million.
On a per-share basis, the North Chicago, Illinois-based company said it had net income of 46 cents. Earnings, adjusted for amortization costs and non-recurring costs, came to $2.79 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.76 per share.
The drugmaker posted revenue of $14.3 billion in the period, also beating Street forecasts. Nine analysts surveyed by Zacks expected $14.05 billion.
For the year, the company reported profit of $4.86 billion, or $2.72 per share. Revenue was reported as $54.32 billion.
AbbVie expects full-year earnings in the range of $11.05 to $11.25 per share.
AbbVie shares have increased 8% since the beginning of the year, while the S&P's 500 index has climbed almost 3%. The stock has increased 14% in the last 12 months.
_____
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