AbbVie inventory crumbled early Friday just after the biopharma large minimize its earnings outlook and arrived up small on gross sales for its 1st quarter.
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The business reported adjusted gain of $3.16 per share on $13.54 billion in income. On typical, analysts polled by FactSet envisioned AbbVie (ABBV) to make $3.14 a share on $13.66 billion in profits.
In the yr-earlier time period, AbbVie earnings ended up $2.89 per share on $13.01 billion in profits.
For the year, AbbVie reduce its earnings outlook to $13.92-$14.12 for each share, which features an 8-cent strike because of to analysis and growth, as properly as a milestone payment from the first quarter. AbbVie inventory analysts experienced predicted modified profit of $14.16 a share on $60.23 billion in product sales.
In premarket trading on present day inventory marketplace, AbbVie stock toppled 4.4% around 149.50.
More to abide by.
Comply with Allison Gatlin on Twitter at @IBD_AGatlin.
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