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AbbVie Reports Q3 Earnings Beat

Tanzeel Akhtar

AbbVie (NYSE: ABBV) reported third-quarter earnings of $2.33 per share on Friday, which beat the analyst consensus estimate of $2.30 by 1.3%. This is a 8.88% increase over earnings of $2.14 per share from the same period last year.

The company reported quarterly sales of $8.479 billion, which beat the analyst consensus estimate of $8.38 billion by 1.18%. This is a 2.95% increase over sales of $8.236 billion the same period last year.

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"Strong performance from our Immunology and Hematologic Oncology portfolios led our growth this quarter,” said Richard Gonzalez, CEO of AbbVie. “We are also making excellent progress with several key strategic priorities, including the recent launch of our two new immunology therapies - Rinvoq and Skyrizi - both of which are off to an impressive start, as well as continued progress toward the completion of our planned acquisition of Allergan. Based on the continued momentum of our portfolio, we are once again raising our full year 2019 EPS guidance range and increasing our dividend."

AbbVie shares closed Thursday's session at $80.49. The stock has a 52-week high of $94.98 and a 52-week low of $62.66.

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