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AbbVie Stock Rises on Stronger-Than-Expected Results, Profit Outlook Lift
Key Takeaways
AbbVie ( ABBV ) on Friday reported first-quarter results that came in above analysts' estimates, and lifted its full-year profit guidance.
The drugmaker generated adjusted earnings per share (EPS) of $2.46 on revenue that rose 8% year-over-year to $13.34 billion. Analysts polled by Visible Alpha expected $2.40 and $12.92 billion, respectively.
Sales of Skyrizi and Rinvoq soared more than 70% and 57%, respectively, but those of Humira fell by half. The three immunology drugs made up nearly half of AbbVie's Q1 revenue at a combined $6.26 billion.
AbbVie Raises Full-Year Profit Outlook
AbbVie lifted its full-year adjusted EPS profit forecast to a range of $12.09 to $12.29 from the prior $11.99 to $12.19. The company said its current outlook is "based on the existing trade environment and does not reflect any trade policy shifts, including pharmaceutical sector tariffs, that could impact AbbVie's business."
President Trump has said that he plans to place tariffs on the drug industry, which were exempted from the first round of tariffs announced earlier this month .
AbbVie shares, which entered the day 1.5% higher this year, were up nearly 3% early Friday afternoon.
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