AbbVie Inc. (NYSE:ABBV) shares are retreating Friday as a modest reduction to full-year adjusted EPS guidance that pushed the midpoint beneath the analyst target proved enough to sour the market’s mood. Here’s what you should know.

• AbbVie shares are under pressure. Why are ABBV shares declining?

A Guidance Trim Overshadows a Clean Earnings Beat

Adjusted diluted earnings came in at $3.65 per share for the April through June period, topping the $3.60 consensus by nearly 1.4% and marking a 22.9% improvement from the $2.97 delivered in the same quarter a year ago. Total revenue of $16.99 billion surpassed the $16.765 billion estimate by 1.34% and grew 10.2% from the prior year period.

Neither of those figures was enough to shift attention away from the updated full-year earnings forecast, which AbbVie trimmed to a range of $13.87 to $14.07 from the prior $13.91 to $14.11, leaving the midpoint at $13.97 and sitting just below the $14.08 the Street had been expecting.

The reduction traces primarily to the proposed acquisition of Apogee Therapeutics, a deal the company expects to close in the third quarter that will weigh on 2026 earnings by 14 cents per share. A 10 cent improvement in underlying operational performance softened the blow, producing a net decline of 4 cents at the midpoint of guidance.

The full-year outlook also absorbs a 58 cents per share drag from in-process research and development charges and milestone payments recorded through the end of the second quarter, though any additional expenses of that nature arising in the back half of the year are not reflected in the current forecast given how difficult they are to predict in advance.

ABBV Shares Are Sliding

ABBV Price Action: AbbVie shares were down 2.01% at $252.24 at the time of publication on Friday, according to Benzinga Pro.

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