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Markets · Investing · Business
Finance
Why AbbVie Stock Slumped Today
The company, one of the rare healthcare sector Dividend Kings, wasn't looking too royal on the last trading day of the week.
High-flying pharmaceutical company AbbVie(NYSE: ABBV) has seen its stock rise in many recent sessions. Yet Friday's wasn't one of them, as the company's shares took a nearly 3% loss on the back of a second-quarter earnings report that investors found uninspiring.
AbbVie unveiled that quarter's figures before market open. Its revenue came in at just under $17 billion for the period, which was more than 10% higher year over year. It also managed to boost its net income not under generally accepted accounting principles (non-GAAP, or adjusted) by 23% to almost $6.5 billion, or $3.65 per share.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
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