Biopharmaceutical company AbbVie Inc. (NYSE: ABBV) on Friday said its third-quarter revenues and net profit increased from last year. The results also exceeded Wall Street’s projection.
At $3.33 per share, September-quarter adjusted earnings were higher than $2.83 per share reported in the prior-year quarter and slightly above the consensus estimates. Net income, including special items, was $3.18 billion or $1.78 per share, compared to $2.31 billion or $1.29 per share in the third quarter of 2020.
Driving the bottom-line growth, net revenues increased 11% year-over-year to $14.34 billion. Market watchers were looking for slightly slower growth.
AbbVie’s shares made modest gains on Friday morning following the earnings announcement, after closing the previous session higher.
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