: AbbVie stock falls toward a 6-week low after adjusted profit fell short of expectations, but the full-year outlook was raised


Shares of AbbVie Inc. ABBV dove 6.2% toward a six-week low in premarket trading Thursday, after the biopharmaceutical company missed first-quarter profit expectations but lifted its full-year outlook. Net income dropped to $239 million, or 13 cents a share, from $4.49 billion, or $2.51 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share fell to $2.46 from $3.16, below the FactSet consensus of $2.51. Revenue grew 9.7% to $12.23 billion, topping the FactSet consensus of $12.17 billion. Among AbbVie’s top selling drugs, Humira sales fell 25.2% to $3.54 billion, while Skyrizi sales jumped…

This article was originally published by Marketwatch.com. Read the original article here.

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