AbbVie Q3 2023 Financial Results

Profitsforce Avatar

·

·

Discover AbbVie financial performance for the third quarter of 2023. Dive into their revenue breakdown, portfolio highlights, and exciting developments in the pharmaceutical industry. Explore investment opportunities in the US stocks market.

AbbVie, a leading pharmaceutical company, has recently disclosed its financial results for the third quarter of 2023. In this comprehensive analysis, we’ll delve into the key figures, including adjusted diluted earnings per share and net revenue. These results have significant implications for investors interested in US stocks.

Adjusted Earnings Per Share (EPS)

AbbVie’s adjusted diluted earnings per share for Q3 2023 amounted to $2.95, representing a 19.4% decrease. It’s worth noting that these results include a $0.04 impact per share related to research and development expenditures (R&D).

Net Revenue

The net revenue for the third quarter reached $13.927 billion, marking a 6.0% decrease compared to the previous period. The analysis will highlight the contributions of AbbVie’s diverse portfolio segments, such as immunology, oncology, neuroscience, and aesthetics.

Immunology Portfolio

The net revenue from the immunology product portfolio was $6.783 billion, reflecting an 11.3% decrease from the previous reporting period.

Looking to expand your healthcare stock portfolio? We’ve got the perfect solution for you! Introducing a selection of the Top-10 Healthcare stocks that could serve as valuable additions to your investment portfolio.

Oncology Portfolio

AbbVie’s global net revenue from the oncology portfolio amounted to $1.512 billion, showing an 8.4% decline compared to the previous period.

Neuroscience Portfolio

The global net revenue from the neuroscience portfolio reached $2.043 billion, representing a remarkable 22.1% increase according to the reported data.

Aesthetics Portfolio

The global net revenue from the aesthetics portfolio was $1.239 billion, with a 4.7% decrease based on the reported data.

Revised Earnings Forecast for 2023

AbbVie has revised its diluted earnings per share guidance for 2023. It now stands at $11.19 to $11.23, including an adverse impact of $0.27 per share associated with acquired R&D expenses.

Dividend Increase

AbbVie has announced a 4.7% dividend increase for 2024, starting with dividend payments in February 2024.

Skyrizi for Ulcerative Colitis

AbbVie has submitted applications to the US Food and Drug Administration (FDA) and the European Medicines Agency (EMA) for Skyrizi (risankizumab) to treat adults with moderate to severely active ulcerative colitis (UC). This article explores the clinical trials and partnership between Boehringer Ingelheim and AbbVie.

SEQUENCE Phase 3 Study

AbbVie presents positive results from the SEQUENCE phase 3 study comparing Skyrizi and Stelara for Crohn’s disease patients. Skyrizi demonstrated superiority in clinical remission and safety compared to Stelara, offering promising prospects for patients.

AbbVie Inc. Dividend Announcement: Growth and Impact Analysis

Explore AbbVie Inc.’s recent dividend announcement, including its quarterly dividend payout and growth trajectory. Learn about AbbVie’s impressive dividend increase since…Read more

As AbbVie continues to make strides in the pharmaceutical industry, this article serves as a valuable resource for those interested in investing in US stocks. Discover key insights into AbbVie’s performance and explore investment opportunities.
In addition, you can register for free on Profitsforce to gain access to comprehensive stock recommendations and valuable investment insights. Take the first step towards a successful investment journey with ProfitForce.

Analyzing AbbVie: A Look into the Future of Immunology

AbbVie stands as a shining beacon in the field of immunology, propelled by the remarkable sales of its anti-inflammatory drug, Humira. The company has solidified its position as a…Read more

Blog

Latest news

  • LONG-TERM VS SHORT-TERM

    LONG-TERM VS SHORT-TERM

    AS SOON AS YOU DECIDE TO START INVESTING, IMMEDIATELY DECIDE WHAT YOU WILL DO – INVESTMENTS OR SPECULATION In the securities market, it is…

  • HOW TO MAKE MONEY ON STOCKS?

    HOW TO MAKE MONEY ON STOCKS?

    TO BE SUCCESSFUL IN THE MARKET, YOU NEED TO FIRST FAMILIARIZE YOURSELF WITH ITS CAPABILITIES Warren Buffett, Bill Ackman, George Soros, Carl Icahn are…

  • Image placeholder

    4 CONFIRMED STRATEGIES

    THAT WILL HELP YOUR PORTFOLIO COPE WITH A POSSIBLE RECESSION IN THE ECONOMY Continue to own assets at low prices. The worst time to…