AbbVie Stock Declines Despite Positive Earnings and Raised Guidance

Despite beating earnings expectations and raising its annual profit forecast, AbbVie's stock fell due to persistent concerns over Humira sales.

AbbVie reported a decline in Humira sales, but newer drugs Skyrizi and Rinvoq showed strong performance, boosting overall revenue.
The company raised its full-year earnings forecast to $11.13-$11.33 per share, surpassing analysts' expectations.
Investors remain worried about the future revenue from Humira, which faces increasing competition from biosimilars.
Despite the stock's recent decline, AbbVie's overall financial health appears robust, supported by its diversified drug portfolio.
Market analysts suggest AbbVie's current stock price offers a good buying opportunity given its fair valuation and growth prospects.