AbbVie Beats Fourth-quarter Profit Expectations

AbbVie shares fell 4% in pre-market trade Friday. AbbVie reported fourth-quarter net income of $1.52 billion, or 92 cents per share, compared to a loss of $810 million, or a loss of 51 cents per share, in the year-earlier period. Abbvie reported adjusted earnings per share of $1.13, above the FactSet consensus of $1.12. The company reported net revenue of $6.40 billion and adjusted revenue of $6.36 billion, up from $5.45 billion in the year-earlier period. The FactSet consensus was $6.38 billion. The company confirmed its 2016 guidance of adjusted EPS of $4.90 to $5.10.

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