{"id":6430,"date":"2023-10-28T16:37:21","date_gmt":"2023-10-28T16:37:21","guid":{"rendered":"https:\/\/infundpros.com\/investment\/abbvies-humira-sales-sink-36-but-guidance-lifted-on-growth-from-other-drugs\/"},"modified":"2023-10-28T16:37:22","modified_gmt":"2023-10-28T16:37:22","slug":"abbvies-humira-sales-sink-36-but-guidance-lifted-on-growth-from-other-drugs","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=6430","title":{"rendered":"AbbVie’s Humira Sales Sink 36% but Guidance Lifted on Growth From Other Drugs"},"content":{"rendered":"
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\n AbbVie
\n posted better-than-expected third-quarter earnings and revenue, raised its profit forecast for fiscal 2023 earnings, and increased its dividend. The stock was falling anyway.<\/p>\n

\n AbbVie
\n (ticker: ABBV) reported third-quarter earnings of $2.95 a share from revenue of $13.93 billion. Analysts surveyed by FactSet were expecting the biopharmaceuticals maker to post earnings of $2.87 a share from revenue of $13.72 billion.<\/p>\n

\n

In the same period last year, the company posted earnings of $3.66 a share from revenue of $14.81 billion.<\/p>\n

\u201cWe delivered another quarter of outstanding results driven by accelerating performance across our non-Humira growth platform, which is demonstrating double-digit growth,\u201d Chief Executive Richard Gonzalez said in a press release.<\/p>\n

Global revenue for Humira, used for conditions like rheumatoid arthritis and plaque psoriasis, came in at\u00a0$3.55 billion, down 36% from the prior year. But two other drugs in the company\u2019s immunology segment, Skyrizi and Rinvoq, achieved revenue gains of 52% and 59%, respectively. <\/p>\n

\n AbbVie
\n is now forecasting fiscal 2023 earnings of between $11.19 and $11.23 a share, compared with its previous call of $10.86 to $11.06. It increased the quarterly dividend to $1.55 from $1.48.<\/p>\n

Still, AbbVie stock was down 4.3% to $139.03, leaving it on pace for the largest percentage decrease since April 27 and th lowest close since July 19, according to Dow Jones Market Data. The stock has fallen 14% this year, and is on pace for its worst year on record. <\/p>\n

Write to Angela Palumbo at angela.palumbo@dowjones.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

AbbVie posted better-than-expected third-quarter earnings and revenue, raised its profit forecast for fiscal 2023 earnings, and increased its dividend. 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