AbbVie Inc. reported a year-over-year increase in its fourth quarter and full-year 2016 earnings.
The pharma giant reported $1.96 billion, or $1.20 per share, in adjusted earnings for the 2016 fourth quarter, which compares to $1.86 billion, or $1.13 per share, in the corresponding quarter of 2015.
The S&P Capital IQ normalized EPS consensus estimate for the fourth quarter was $1.20.
The company's fourth-quarter 2016 adjusted net revenues were up 6.9% year over year to $6.78 billion.
On a GAAP basis, fourth-quarter 2016 net earnings of $1.39 billion, or 85 cents per share, compared to $1.52 billion, or 92 cents per share, in the closing months of 2015.
For the year, the company recorded $7.90 billion, or $4.82 per share, in adjusted earnings, up from $7.06 billion, or $4.29 per share, in 2015.
The S&P Capital IQ normalized EPS consensus estimate for 2016 was $4.82.
AbbVie's full-year 2016 adjusted net revenues totaled $25.56 billion, an increase from $22.82 billion in 2015. AbbVie's full-year 2016 GAAP net earnings of $5.95 billion, or $3.63 per share, compared to $5.14 billion, or $3.13 per share, in 2015.
Abbvie will target $4.55 to $4.65 in GAAP and $5.44 to $5.54 in adjusted EPS during 2017.The S&P Capital IQ normalized EPS consensus estimate for 2017 is $5.50.