AbbVie Inc. (NYSE: ABBV) delivered a strong third-quarter earnings report with a beat on the top and bottom lines and an increase in its forward guidance. The results clear the way for ABBV stock to make $250 the new floor for the stock.
ABBV stock was down approximately 1.3% in the 30 days leading up to earnings, and about 3.8% at the market open. The culprit is likely the company’s adjusted earnings per share (EPS) that came in at $1.86. That’s a 38% year-over-year (YOY) decline.
