AbbVie Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported net revenues of $7,739 million compared to $6,796 million a year ago. Operating earnings were of $1,794 million compared to $2,358 million a year ago. Earnings before income tax expenses were of $1,193 million compared to $1,998 million a year ago. Net earnings were $52 million or $0.03 per diluted share compared to $1,391 million or $0.85 per diluted share a year ago. Adjusted diluted earnings per share were $1.48 compared to $1.20 a year ago. Adjusted pre-tax earnings were $2,945 million compared to $2,461 million a year ago. Adjusted after-tax earnings were $2,389 million compared to $1,964 million a year ago.

For the year, the company reported net revenues of $28,216 million compared to $25,638 million a year ago. Operating earnings were of $9,592 million compared to $9,384 million a year ago. Earnings before income tax expenses were of $7,727 million compared to $7,884 million a year ago. Net earnings were $5,309 million or $3.30 per diluted share compared to $5,953 million or $3.63 per diluted share a year ago. Adjusted diluted earnings per share were $5.60 compared to $4.82 a year ago. Adjusted pre-tax earnings were $11,106 million compared to $9,905 million a year ago. Adjusted after-tax earnings were $9,011 million compared to $7,904 million a year ago.

The company revises earnings guidance for the full year of 2018. The company expects GAAP diluted EPS of $6.45 to $6.55. The company is raising its previously announced adjusted EPS guidance range for the full-year 2018 from $6.37 to $6.57 to $7.33 to $7.43 to reflect the impact of U.S. tax reform and stronger operating performance. The midpoint of this guidance reflects year-over-year growth of 32%, more than half of which is driven by growth in the underlying business. Relative to the previously issued 2018 guidance provided in October 2017, this guidance includes an increase of $0.08 as a result of stronger operating dynamics. The company's adjusted EPS guidance range reflects an effective tax rate of approximately 9% in 2018. In 2018, company will experience a one-time net tax benefit related to the timing of the phase in of provisions of the new legislation on certain subsidiaries. This benefit has been excluded from the adjusted EPS guidance, and included in the GAAP guidance range. The company anticipates the adjusted effective tax rate to increase to 13% over the next five years as a result of increased domestic income and investment.

For the first quarter of 2018, the company expects adjusted earnings per share between $1.77 and $1.79, excluding approximately $0.31 of specified items. The company anticipates first quarter operational revenue growth approaching the mid-teens. The company guidance for the quarter reflects an adjusted effective tax rate approaching 8%, lower than its full year expectation reflecting the fact that the tax benefit on equity compensation is most pronounced in the first quarter of each year.

For the quarter, the company announced intangible asset impairment of $354 million.