AbbVie (ABBV) Surpasses Q3 Earnings and Revenue Estimates

Financial Performance - AbbVie reported quarterly earnings of $3 per share, exceeding the Zacks Consensus Estimate of $2.92 per share, and compared to earnings of $2.95 per share a year ago, representing an earnings surprise of 2.74% [1] - The company posted revenues of $14.46 billion for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 1.29%, and compared to year-ago revenues of $13.93 billion [2] - AbbVie has surpassed consensus EPS estimates and revenue estimates four times over the last four quarters [2] Stock Performance - AbbVie shares have increased by approximately 22.3% since the beginning of the year, matching the S&P 500's gain of 22.3% [3] - The current consensus EPS estimate for the coming quarter is $2.99 on revenues of $14.8 billion, and for the current fiscal year, it is $10.85 on revenues of $55.85 billion [7] Industry Outlook - The Large Cap Pharmaceuticals industry, to which AbbVie belongs, is currently in the top 23% of over 250 Zacks industries, indicating a favorable outlook [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact AbbVie's stock performance [5]