AbbVie Inc Reports Q3 Results; Beats Estimates (ABBV)

Before Friday’s opening bell,  AbbVie Inc (ABBV) reported its third quarter financial results, which came in above analysts’ estimates. 

ABBV’s Earnings in Brief

ABBV posted third quarter earnings of $506 million, or 31 cents per share, down from $964 million, or 60 cents per share, last year. Excluding special items, earnings were 89 cents per share, above analysts’ estimate of 77 cents per share. Sales rose 8.3% to $5.02 billion. Analysts expected to see sales of $4.82 billion. Looking forward, the company has boosted its annual EPS outlook to a range of $3.25 – $3.27 per share (from $3.06 – $3.16 per share). Analysts expect to see EPS of $3.16.

CEO Commentary

ABBV’s CEO Richard Gonzalez commented: “We exceeded our outlook for the quarter and have significantly raised our original 2014 guidance.”

ABBV’s Dividend

ABBV will pay its next  42 cent dividend on November 17. The company will also pay an increased dividend of 49 cents on February 13.

Stock Performance

AbbVie shares were up $2.62, or 4.28%, during pre-market trading Friday. The stock is up 15.85% YTD.

ABBV Dividend Snapshot

As of market close on October 30, 2014

Click here to see the complete history of ABBV dividends.