Why did AbbVie stock fall today? Lower than expected EPS, sales

• AbbVie (NYSE:ABBV) closed down 8% on Thursday as its Q1 2023 EPS missed estimates and sales of certain drugs, including Skyrizi and Rinvoq, missed expectations.
• Though both drugs had significant year-over-year revenue growth, analysta were expecting them to rise even more. The two treatments are considered critical to AbbVie's (ABBV) future as revenue replacements for its blockbuster Humira (adalimumab), which started facing generic competition in Q1.
• Gross margins and operating margins also declined. Also, the company's adjusted diluted EPS projection for 2023 did not include the consensus estimate.

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