WASHINGTON (dpa-AFX) - (Adds Outlook, Dividend)
AbbVie (ABBV) released earnings for its third quarter that increased from last year and beat the Street estimates.
The company's earnings came in at $3.949 billion, or $2.21 per share. This compares with $3.179 billion, or $1.78 per share, in last year's third quarter.
Excluding items, AbbVie reported adjusted earnings of $6.528 billion or $3.66 per share for the period.
Analysts on average had expected the company to earn $3.57 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 3.3% to $14.812 billion from $14.342 billion last year.
Outlook:
Looking ahead, AbbVie said: '.Confirming the midpoint of its full-year 2022 adjusted diluted EPS guidance range and narrowing the range from $13.76 - $13.96 to $13.84 - $13.88, which includes an unfavorable impact of $0.25 per share related to acquired IPR&D and milestones expense incurred year-to-date through the third quarter 2022.'
For the full-year, fifteen analysts, on average, polled by Thomson-Reuters are expecting the firm to report EPS of $13.86. Analysts' estimates typically exclude one-time items.
Dividend:
The company raised its quarterly cash dividend to $1.48 per share, from $1.41 per share, beginning with the dividend payable on February 15, 2023, to shareholders of record on January 13, 2023.
AbbVie earnings at a glance (GAAP) :
-Earnings (Q3): $3.949 Bln. vs. $3.179 Bln. last year. -EPS (Q3): $2.21 vs. $1.78 last year. -Analyst Estimate: $3.57 -Revenue (Q3): $14.812 Bln vs. $14.342 Bln last year.
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