ABBV: AbbVie Beats Street on Soaring Humira Sales

by Christopher Freeburn | April 25, 2014 9:38 am

On Friday, AbbVie (ABBV[1]) reported higher quarterly earnings and revenues[2]. ABBV stock rose more than 3% in morning trading.

abbvie ABBV[3]ABBV shares moved higher after the pharmaceutical-maker said it earned $980 million during the first quarter, up 1.2% from $968 million in the prior-year period. Adjusted EPS came in at 71 cents, beating guidance issued earlier this year, Reuters noted.

Quarterly sales climbed to $4.56 billion, up 5.4% over the year-ago period, and topping the $4.33 billion that Wall Street was expecting.

AbbVie said that its first quarter results were boosted[4] by a 18% jump in worldwide sales of its rheumatoid arthritis drug, Humira, the Wall Street Journal noted. During the quarter, global Humira sales hit $2.6 billion.

On Thursday, AbbVie stock closed at $49.32 per share.

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Endnotes:

  1. ABBV: http://studio-5.financialcontent.com/investplace/quote?Symbol=ABBV
  2. higher quarterly earnings and revenues: http://in.reuters.com/article/2014/04/25/abbvie-results-idINL2N0NG1RM20140425
  3. [Image]: https://investorplace.com/wp-content/uploads/2013/08/abbvie.png
  4. its first quarter results were boosted: http://online.wsj.com/news/articles/SB10001424052702304518704579523401110509002?mg=reno64-wsj
  5. UA, BEAM: Under Armour to Replace Beam in S&P 500: https://investorplace.com/2014/04/ua-beam-armour-replace-beam-sp-500/#.U1pkNl5hOf0
  6. CAT: Caterpillar Stock Jumps on Forecast, Profits: https://investorplace.com/2014/04/cat-caterpillar-stock-jumps-forecast-profits/#.U1kaAV5hOf1
  7. SVU: SuperValu Stock Soars on Earnings Beat: https://investorplace.com/2014/04/svu-supervalu-stock-soars-earnings-beat/#.U1kQf15hOf1

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