AbbVie Inc. (ABBV) is currently experiencing notable market activity, with shares declining by 4.5% over the past month, while the S&P 500 composite gained 4.3%. The company is set to announce quarterly earnings on October 27, 2023, with projections indicating earnings of $3.06 per share for the current quarter, a 5.2% year-over-year increase.
AbbVie’s revenue for the upcoming quarter is estimated at $12.46 billion, reflecting a 10.1% decline compared to the same period last year. For the fiscal year, expected revenues are $55.29 billion, with growth projected to be 1.8% in the current fiscal year and 6.2% for the next. The company’s consensus earnings estimate for the next fiscal year stands at $12.08, showing a 7.3% increase year-over-year.
In its last reported quarter, AbbVie saw revenues of $12.31 billion, marking a 0.7% year-over-year increase, and exceeded consensus revenue estimates by 2.65%. AbbVie holds a Zacks Rank of #3 (Hold), suggesting it may perform in line with the broader market moving forward.
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