AbbVie (NYSE: ABBV) reported third-quarter 2020 financial results before the regular trading hours on Friday. The pharmaceutical behemoth reported Q3 revenue of $12.9 billion, which surpassed the Wall Street consensus. Net earnings of $2.83 per share were also better than the target that analysts had projected.
ABBV shares gained 1.4% immediately following the announcement. The stock has slipped 10% since the beginning of this year.
AbbVie’s flagship arthritis drug Humira reported net revenues of $5.140 billion, which was 4% more than last year. While sales increased 7.7% in the US, international markets saw a 9% decrease due to competition from biosimilars.
