NORTH CHICAGO, Ill. (AP) — NORTH CHICAGO, Ill. (AP) — AbbVie Inc. (ABBV) on Wednesday reported fourth-quarter net income of $1.82 billion, after reporting a loss in the same period a year earlier.
The North Chicago, Illinois-based company said it had net income of $1.02 per share. Earnings, adjusted for non-recurring costs and amortization costs, came to $2.71 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.66 per share.
The drugmaker posted revenue of $16.62 billion in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $16.36 billion.
For the year, the company reported profit of $4.23 billion, or $2.36 per share. Revenue was reported as $61.16 billion.
AbbVie expects full-year earnings in the range of $14.37 to $14.57 per share.
AbbVie shares have dropped 1% since the beginning of the year, while the S&P’s 500 index has risen 1%. The stock has increased 19% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ABBV at https://www.zacks.com/ap/ABBV