Quarterly revenue performance
In the fourth quarter of 2018, AbbVie (ABBV) reported net revenues of $8.31 billion, a YoY rise of 7.3%, assuming the negative impact of 1% attributable to unfavorable foreign currency fluctuations. However, investors were disappointed, as the company missed the consensus revenue estimate by $60 million.
According to AbbVie’s fourth-quarter earnings conference call, the company reported total adjusted operational sales growth of 8.3% in the fourth quarter of 2018. While the company’s revenues benefited from double-digit growth in sales volumes of its products, they were negatively impacted by 2.5 points due to pricing. AbbVie’s operational sales growth in the fourth quarter of 2018 was significantly higher than the guidance of 7% provided by the company in its third-quarter earnings conference call.
Wall Street analysts expect AbbVie to report revenues of $7.92 billion in the first quarter of 2019, a YoY decline of 0.24% and a sequential decline of 4.70%.
Revenue projections for fiscal 2019
In fiscal 2018, AbbVie reported revenues of $32.73 billion, a YoY rise of 16.0% on a reported basis and 15.2% on an operational basis. This performance is in line with the guidance provided by the company in its third-quarter earnings conference call.
According to the company’s fourth-quarter earnings conference call, AbbVie is expected to report YoY operational revenue growth of 1% in fiscal 2019. The company has also forecasted a negative revenue impact of less than 1% attributable to unfavorable foreign currency fluctuations. AbbVie has forecasted an almost flat revenue performance on a reported basis for fiscal 2019.
Wall Street analysts have forecasted AbbVie’s fiscal 2019 revenues to be $33.49 billion, a YoY rise of 2.25%.
In the next article, we’ll discuss the earnings performance of AbbVie for fiscal 2018.