Why AbbVie Stock Is Jumping Today
Shares of (NYSE: ABBV) were jumping 7.1% higher as of 11:10 a.m. ET on Friday after rising as much as 9.2% earlier in the day. The nice gain stemmed from the big drugmaker's 2024 fourth-quarter update on Friday morning.
AbbVie reported Q4 net revenue of $15.1 billion, up 5.6% and higher than the average estimate of $14.87 billion of analysts surveyed by Zacks Investment Research. The company posted a loss in Q4 of $0.02 per share based on generally accepted accounting principles (GAAP). However, it recorded adjusted diluted earnings per share (EPS) of $2.16. The average analysts' estimate was for adjusted EPS of $2.13, according to Zacks.
If you're thinking AbbVie's Q4 results weren't spectacular enough to spark such a big jump, you're right. However, there was more to the story with the company's quarterly update.
Source Fool.com
AbbVie Inc. Stock
With 32 Buy predictions and not a single Sell prediction AbbVie Inc. is an absolute favorite of our community.
With a target price of 209 € there is a slightly positive potential of 17.09% for AbbVie Inc. compared to the current price of 178.5 €.
