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![AbbVie Inc. [ABBV] reports annual net loss of $4.9 billion](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FABBV.png&w=1200&q=75)
AbbVie Inc. [ABBV] has reported a net loss of $4.9 billion for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $54.3 billion
Based in NORTH CHICAGO, Illinois, AbbVie Inc. operates in the MANUFACTURING sector.
AbbVie Inc. released its annual Consolidated Statements of Earnings, comparing the financial results for the 12 months ended December 31, 2023, with the same period in 2022 and 2021.
Net revenues for 2023 were reported at $54.32 billion, a decrease from $58.05 billion in 2022 and $56.20 billion in 2021.
Cost of products sold in 2023 amounted to $20.42 billion, showing an increase from $17.41 billion in 2022 and $17.45 billion in 2021. Selling, general and administrative expenses were $12.87 billion in 2023, down from $15.26 billion in 2022 but higher than $12.35 billion in 2021. Research and development costs were $7.68 billion in 2023, compared to $6.51 billion in 2022 and $6.92 billion in 2021.
Operating earnings for 2023 were $12.76 billion, a decrease from $18.12 billion in 2022 and $17.92 billion in 2021.
Net earnings for the year 2023 were reported at $4.87 billion, significantly lower than $11.85 billion in 2022 and slightly below $11.55 billion in 2021.
Basic earnings per share for 2023 were $2.73, a decline from $6.65 in 2022 and $6.48 in 2021. Diluted earnings per share for 2023 stood at $2.72, lower than $6.63 in 2022 and $6.45 in 2021.
Weighted-average basic shares outstanding in 2023 were 1,768 million, slightly down from 1,771 million in 2022 and 1,770 million in 2021. The weighted-average diluted shares outstanding for 2023 were 1,773 million, a decrease from 1,778 million in 2022 and 1,777 million in 2021.
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