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AbbVie Q3 Revenue Misses, Shares Decline

Shares of AbbVie were lower Friday after posting disappointing third-quarter revenue.

Shares of AbbVie (ABBV) - Get Report were lower Friday after posting disappointing third-quarter revenue. The biopharmaceutical company reported revenue of $6.43 billion for the period, which was below analysts' forecasts. Sales of its flagship treatment Humira grew 11.3% to $4.06 billion, which also missed estimates. Earnings of $1.21 a share beat expectations by a penny. For the full-year, AbbVie increased its earnings guidance. It now expects earnings between $4.80 and $4.82, which is higher than its prior outlook. The company also said it will raise its 2017 dividend by 12%.

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