AbbVie (NYSE:ABBV) shares ticked up before hours today on third-quarter results that beat the consensus forecast.
The North Chicago, Illinois-based company posted profits of $3.2 billion, or $1.78 per share, on sales of $14.34 billion for the three months ended Sept. 30, 2021, for a 37.5% bottom-line gain on sales growth of 11.2%.
Adjusted to exclude one-time items, earnings per share were $3.33, 11¢ ahead of Wall Street, where analysts were looking for sales of $14.3 billion.
“We continue to deliver excellent results, with balanced performance across our portfolio driving double-digit operational sales and EPS growth,” AbbVie Chairman & CEO Richard A. Gonzalez said in a news release. “Based upon our strong momentum, we are increasing our full-year 2021 EPS guidance. We remain highly confident in AbbVie’s long-term outlook and are once again raising our dividend, which has grown over 250% since inception.”
AbbVie said it now expects to log adjusted EPS between $12.63 and $12.67, representing a rise from previous projections of between $12.52 and $12.62.
ABBV shares were up 2.7% at $112.62 per share before hours today.