AbbVie meets 4Q profit forecasts

NORTH CHICAGO, Ill. (AP) - AbbVie Inc. (ABBV) on Friday reported fourth-quarter net income of $1.52 billion, after reporting a loss in the same period a year earlier.

The North Chicago, Illinois-based company said it had profit of 92 cents per share. Earnings, adjusted for non-recurring costs and restructuring costs, were $1.13 per share.

The results met Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was also for earnings of $1.13 per share.

The drugmaker posted revenue of $6.4 billion in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $6.45 billion.

AbbVie expects full-year earnings in the range of $4.90 to $5.10 per share.

AbbVie shares have dropped almost 6 percent since the beginning of the year, while the Standard & Poor's 500 index has declined slightly more than 7 percent. The stock has decreased almost 10 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ABBV at http://www.zacks.com/ap/ABBV

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Keywords: AbbVie, Earnings Report