When AbbVie Inc. (NYSE: ABBV) released its fourth-quarter financial results before the markets opened on Friday, the pharmaceutical giant said that it had $1.90 in earnings per share (EPS) and $8.31 billion in revenue. That compares with consensus estimates of $1.94 in EPS and $8.38 billion in revenue, as well as the $1.48 per share and $7.74 billion posted in the same period of last year.
Overall, global Humira sales increased 0.5%, excluding FX. In the United States, Humira sales grew 9.1% in the quarter. Internationally, Humira sales declined 14.8% operationally due to direct biosimilar competition in certain international markets.
Global net revenues from the hematologic oncology portfolio were $1.130 billion, an increase of 50.2%. Global Imbruvica net revenues were $1.006 billion, an increase of 42% and global Venclexta net revenues were $124 million.
At the same time, global HCV net revenues were $862 million.
Looking ahead to 2019, the company expects to see EPS in the range of $8.65 to $8.75. Consensus estimates are calling for $8.71 in EPS and $33.6 billion in revenue for the year.
Richard A. Gonzalez, board chair and chief executive, commented:
We delivered exceptional performance in 2018, including operational revenue growth of more than 15 percent and EPS growth above 40 percent. We’re entering an important new phase for AbbVie. The continued momentum of our business, combined with the launch and ramp of several new products, will allow us to drive strong earnings growth once again in 2019 and position us for growth over the longer term.
Shares of AbbVie were last seen down about 6% at $80.40 on Friday, in a 52-week range of $77.50 to $125.86. The consensus analyst price target is $97.18.
24/7 Wall St.It’s Your Money, Your Future—Own It (sponsor)
Retirement can be daunting, but it doesn’t need to be.
Imagine having an expert in your corner to help you with your financial goals. Someone to help you determine if you’re ahead, behind, or right on track. With SmartAsset, that’s not just a dream—it’s reality. This free tool connects you with pre-screened financial advisors who work in your best interests. It’s quick, it’s easy, so take the leap today and start planning smarter!
Don’t waste another minute; get started right here and help your retirement dreams become a retirement reality.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.