AbbVie Exceeds Q3 Earnings and Revenue Expectations, Raises Full-Year Guidance
AbbVie reported third-quarter financial results that surpassed analyst estimates, posting a non-GAAP earnings per share (EPS) of $3.82 and total revenue of $17.4 billion. The performance was driven largely by the continued strong momentum of Skyrizi and Rinvoq, which helped offset concerns regarding upcoming patent expirations for older products. Following these results, the company has raised its full-year earnings guidance, signaling confidence in its growth trajectory. While investors remain focused on the long-term 'patent cliff' risks, the current strength in the immunology portfolio and emerging oncology gains are providing significant support to the company's valuation.
Tickers: $ABBV
Topics: earnings beat guidance raise pharmaceuticals revenue growth