ABBV: AbbVie Beats Street on Soaring Humira Sales

Global sales also topped analysts' estimates

By Christopher Freeburn, InvestorPlace Writer

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

abbvie ABBVABBV 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.

Biggest Movers in Healthcare Stocks Now – VOLC PBYI ABBV
Biggest Movers in Healthcare Stocks Now – VOLC PBYI ABBV

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 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.

More Stocks in the News:

Article printed from InvestorPlace Media,

©2018 InvestorPlace Media, LLC