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AbbVie drops after missing estimates from the top and bottom line



The shares of the pharmaceutical company AbbVie Inc. (ABBV) declined by 7% on Friday after the company reported fourth-quarter results under consensus analysts' forecasts.

The North American-based company reported a fourth-quarter earnings of $ 1.90 per share in revenue of $ 8.305 billion. Analysts are looking for a $ 1.93 profit. with revenue of $ 8.37 billion.

"We are entering an important new phase for AbbVie The constant impetus of our business, coupled with the launch and release of several new products, will allow us to achieve a strong profit growth again in 2019 and position us for growth in long-term plan, "said executive director Richard Gonzales.

Quarterly revenue grew by 7.3% a year, thanks in part to a 50% increase in the global hemological oncology portfolio of the company, where net revenues were $ 1

.13 billion [19659002] AbbVie issues a full yearly a revenue gap of between $ 8.65 and $ 8.75 per share, which represents a 10% growth in the middle of 2018.

"We have achieved outstanding results in 2018, including operating revenue growth of over 15%, and EPS increased by more than 40%, "Gonzalez said.

The company also announced that its board of directors has authorized an increase of $ 5 billion in its existing share buyback program. The program has no time limit and may be terminated at any time.


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