AbbVie Reports Q4 Loss, Beats Earnings Estimates
NORTH CHICAGO, Ill. - AbbVie Inc. (ABBV) announced a fourth-quarter loss of $22 million, reversing a profit in the same period a year ago. On a per-share basis, the North Chicago, Illinois-based company posted a loss of 2 cents.
Adjusted for non-recurring items, earnings came to $2.16 per share, exceeding analysts' expectations of $2.13 per share, as surveyed by Zacks Investment Research.
Revenue for the quarter reached $15.1 billion, also surpassing Street forecasts of $14.87 billion. For the full year, AbbVie reported a profit of $4.28 billion, or $2.39 per share, on revenue of $56.33 billion.
Looking ahead, the company projects full-year earnings per share in the range of $12.12 to $12.32.
Despite the Q4 loss, AbbVie shares have outperformed the broader market in the past year. While the company's stock has fallen 1% year-to-date, the S&P's 500 index has gained 27%. Over the past 12 months, AbbVie shares have appreciated by 6.5%.