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Friday, February 7, 2020

=AbbVie (ABBV) reported earnings on Fri 7 Feb 20 (b/o)

AbbVie beats by $0.02, reports revs in-line; guides FY20 EPS below consensus

  • Reports Q4 (Dec) earnings of $2.21 per share, excluding non-recurring items, $0.02 better than the S&P Capital IQ Consensus of $2.19; revenues rose 4.8% year/year to $8.7 bln vs the $8.68 bln S&P Capital IQ Consensus.
  • Worldwide net revenues were $8.704 billion, an increase of 4.8 percent on a reported basis, or 5.3 percent operationally. Excluding the unfavorable impact of international HUMIRA net revenues due to biosimilar competition, fourth-quarter net revenues grew 11.0 percent operationally. U.S. HUMIRA net revenues were $3.969 billion, an increase of 9.8 percent.
  • Internationally, HUMIRA net revenues were $948 million, a decrease of 27.3 percent on a reported basis, or 25.4 percent operationally, due to biosimilar competition. Global HUMIRA net revenues of $4.917 billion were flat on a reported basis and increased 0.5 percent operationally.
  • Co issues downside guidance for FY20, sees EPS of $9.61-9.71, excluding non-recurring items, vs. $9.78 S&P Capital IQ Consensus.
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