AbbVie bypasses previous views with stocks at the buy point

Shares of AbbVie fell Friday after the drug company reported adjusted earnings of $3.11 per share on $13.96 billion in second-quarter sales.




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Analysts on average expected polled by FactSet AbbVie (ABBV) to earn $3.08 per share on $13.63 billion in revenue.

In the prior period, AbbVie earned $2.34 per share and reported revenue of $10.43 billion.

For the year, AbbVie expects EPS of $12.52 – $12.62 versus its previous target of 12.37 – $12.57, raising the midpoint by a dime to $12.57. Analysts expected earnings of $12.60 per share and revenue of $55.91 billion.

During afternoon stock market trading today, AbbVie stock fell 1.1% at 117.57. According to MarketSmith.com, shares closed just above the 118.38 buy point from a flat base on Thursday.

Follow Allison Gatlin on Twitter at @IBD_AGatlin.

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