AbbVie Q3 Profit Decreases, but beats estimates

(RTTNews) - AbbVie (ABBV) reported earnings for third quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $1.78 billion, or $1.00 per share. This compares with $3.95 billion, or $2.21 per share, in last year's third quarter.

Excluding items, AbbVie reported adjusted earnings of $5.25 billion or $2.95 per share for the period.

Analysts on average had expected the company to earn $2.70 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 5.9% to $13.93 billion from $14.81 billion last year.

AbbVie earnings at a glance (GAAP) :

-Earnings (Q3): $1.78 Bln. vs. $3.95 Bln. last year. -EPS (Q3): $1.00 vs. $2.21 last year. -Analyst Estimates: $2.70 -Revenue (Q3): $13.93 Bln vs. $14.81 Bln last year.

-Guidance: Full year EPS guidance: $11.19 - $11.23