AbbVie Boosts FY24 Outlook - Update

(RTTNews) - While reporting financial results for the second quarter on Thursday, biopharmaceutical company AbbVie, Inc. (ABBV) raised its adjusted earnings guidance for the full-year 2024.

For fiscal 2024, AbbVie now projects adjusted earnings in a range of $10.71 to $10.91 per share, which includes an unfavorable impact of $0.60 per share related to acquired IPR&D and milestones expense incurred year-to-date through the second quarter 2024.

However, the adjusted earnings guidance excludes any impact from acquired IPR&D and milestones that may be incurred beyond the second quarter of 2024, as both cannot be reliably forecasted.

Previously, the company expected adjusted earnings in the range of $10.61 to $10.81 per share.

On average, 20 analysts polled by Thomson Reuters expect the company to report earnings of $9.93 per share for the year. Analysts' estimates typically exclude special items.

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