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.
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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