AbbVie reported a net income of $1.56bn, or $0.88 per diluted share, for the third quarter ended 30 September 2024, a 12% decline compared to $1.77bn, or $1 per diluted share, for the same period in 2023.
The pharmaceutical company’s net income for the third quarter of 2024 (Q3 2024) increased by 14% compared to $1.37bn for the second quarter of 2024 (Q2 2024)
The US drugmaker reported net revenues of $14.46bn for Q3 2024, a 3.8% rise compared to $13.92bn for the same quarter in 2023, and remained unchanged compared to Q2 2024.
AbbVie reported total operating costs and expenses of $10.62bn for Q3 2024, a 9% increase compared to $11.64bn for the respective period in the previous year.
The company reported an income before tax of $2.08bn for Q3 2024, a 5% rise compared to $1.95bn for the same quarter in 2023.
AbbVie CEO Robert Michael said: “We delivered another quarter of strong commercial execution and significant pipeline progress.
“Based upon the momentum of AbbVie’s business and our confidence in the long-term growth outlook, we are once again raising our full-year guidance and are increasing our quarterly dividend.”
AbbVie reported a net income of $4.30bn, or $2.41 per diluted share, for the first nine months (9M) of 2024, a 6% rise compared to $4.04bn, a $2.26 per diluted share, for the respective period in 2023.
The pharmaceutical company reported net revenues of $41.23bn for 9M 2024, a 3% compared to $40.01bn for the same period in the previous year.
AbbVie reported total operating costs and expenses of $30.60bn 9M 2024, a 0.5% increase compared to $30.45bn for the respective period in 2023.
The company reported an income before tax of $5.98bn for 9M 2024, a 16% rise compared to $5.03bn for the same period in the previous year.
Recently, AbbVie agreed to acquire Aliada Therapeutics, a biotechnology company treating neurological disorders, for a total equity value of $1.4bn.
