Specialty biopharmaceutical company AbbVie, Inc. (NYSE: ABBV) Friday announced fourth-quarter 2023 financial results, reporting lower revenues and net income.
The company reported worldwide net revenues of $14.3 billion for the December quarter, down 5.4% from the corresponding period of 2022. The top line was negatively impacted by lower sales for the company’s main products.
Net income, adjusted for special items, was $2.79 per share in Q4, compared to $3.60 per share in the year-ago quarter. On a reported basis, fourth-quarter profit decreased sharply to $822 million or $0.46 per share from $2.47 billion or $1.38 per share last year.
