AbbVie Inc Stock Up on Strong Earnings, Guidance Update

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AbbVie Inc (NYSE:ABBV) stock was up today following the release of its earnings report for the first quarter of the year.

AbbVie Inc Stock Up on Strong Earnings, Guidance Update

During the first quarter of 2018, AbbVie Inc reported earnings per share of $1.89. This is an increase over its earnings per share of $1.28 from the same time last year. It also beat out Wall Street’s earnings per share estimate of $1.79 for the quarter and was good news for ABBV stock.

AbbVie Inc’s net income reported in the first quarter of the year was $2.78 billion. This is a major jump over the pharmaceutical company’s net income of $1.71 billion that was reported in the first quarter of 2017.

Operating income reported by AbbVie Inc for the first quarter of 2018 was $2.90 billion. The company’s operating income for the same period of the year prior came in at $2.41 billion.

AbbVie Inc also reported revenue of $7.93 billion for the first quarter of the year. This is up from its revenue of $6.54 billion that was reported in the first quarter of the previous year. It was also a boon to ABBV stock by coming in above analysts’ revenue estimate of $7.60 billion for the period.

AbbVie Inc’s most recent earnings report also includes an update to its guidance for 2018. The company says it is now expecting earnings per share for the year to range from $7.66 to $7.76. It’s previous outlook had earnings per share coming in between $7.33 and $7.43. Wall Street is looking for earnings per share of $7.55 in 2018.

ABBV stock was up 3% as of Thursday morning.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2018/04/abbvie-stock-up-on-strong-q1-earnings/.

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