AbbVie a Buy After Its Latest Earnings Report?

AbbVie cleared its loss of exclusivity for Humira and the stock hit fresh highs ahead of earnings. Shares closed at a record $290.79 just before the third-quarter report on Oct. 30, then rose another 1.4% to another all-time high. The company posted Q3 revenue of $17.4 billion, up 10.3% year over year, and adjusted EPS of $3.82—above the guidance midpoint by about $0.07. However, last year included $1.50 per share of costs tied to acquired experimental drugs versus $0.11 this year. Excluding those items, adjusted EPS rose about 17%. Growth is led by Skyrizi ($5.78 billion, +22.7%) and Rinvoq ($2.71 billion, +23.9%). AbbVie raised full-year guidance slightly and increased its quarterly dividend 5.2% to $1.82 starting in February.