AbbVie: 4Q Earnings Snapshot
NORTH CHICAGO, Ill. (AP) _ AbbVie Inc. (ABBV) on Friday reported a fourth-quarter loss of $1.83 billion, after reporting a profit in the same period a year earlier.
On a per-share basis, the North Chicago, Illinois-based company said it had a loss of $1.23. Earnings, adjusted for one-time gains and costs, were $1.90 per share.
The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.92 per share.
The drugmaker posted revenue of $8.31 billion in the period, also missing Street forecasts. Four analysts surveyed by Zacks expected $8.36 billion.
For the year, the company reported profit of $5.69 billion, or $3.66 per share. Revenue was reported as $32.75 billion.
AbbVie expects full-year earnings in the range of $8.65 to $8.75 per share.
AbbVie shares have fallen nearly 7 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed slightly more than 5 percent. The stock has dropped 19 percent in the last 12 months.