AbbVie beats by $0.02, misses on revs; guides FY23 EPS below consensus; excludes impact from acquired IPR&D and milestones
- Reports Q4 (Dec) earnings of $3.60 per share, excluding non-recurring items, $0.02 better than the S&P Capital IQ Consensus of $3.58; revenues rose 1.6% year/year to $15.12 bln vs the $15.30 bln S&P Capital IQ Consensus.
- Co issues downside guidance for FY23, sees EPS of $10.70-11.10, excluding non-recurring items, vs. $11.68 S&P Capital IQ Consensus.
- Co's 2023 adjusted diluted EPS guidance excludes any impact from acquired IPR&D and milestones that may be incurred during 2023, as both cannot be reliably forecasted.
- Co added, "Looking forward, we have a solid foundation which will allow us to absorb the U.S. Humira loss of exclusivity, return to strong top-line growth in 2025 and drive top-tier financial performance over the long term."
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