NEW YORK (TheStreet) -- Shares of AbbVie (ABBV) - Get Report were retreating 5.87% to $57.85 in pre-market trading on Friday after reporting 2016 third-quarter revenue that fell short of analysts' expectations.
Before the market open, the Chicago-based biopharmaceutical company said that revenue rose 8.2% year-over-year to $6.43 billion. Analysts surveyed by FactSet were looking for $6.56 billion.
Revenue was helped as sales of its flagship treatment Humira grew 11.3% to $4.06 billion. Analysts were anticipating revenue of $4.17 billion for the drug.
Adjusted earnings of $1.21 per share were slightly above the FactSet consensus of $1.20 per share.
Additionally, AbbVie increased its full-year earnings guidance. The company now expects to report adjusted earnings between $4.80 and $4.82 per share, up from between $4.73 and $4.83 a share. Analysts are anticipating 2016 earnings of $4.82 per share.
The company also announced that it will raise its 2017 dividend by 12%.
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Separately, TheStreet Ratings team rates the stock as a "buy" with a ratings score of B.
AbbVie's strengths such as its robust revenue growth, notable return on equity, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.
You can view the full analysis from the report here: ABBV
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.