NORTH CHICAGO, Ill. (AP) — NORTH CHICAGO, Ill. (AP) — AbbVie Inc. (ABBV) on Friday reported first-quarter earnings of $1.37 billion.
On a per-share basis, the North Chicago, Illinois-based company said it had net income of 77 cents. Earnings, adjusted for amortization costs and non-recurring costs, were $2.31 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.26 per share.
The drugmaker posted revenue of $12.31 billion in the period, also topping Street forecasts. Nine analysts surveyed by Zacks expected $11.99 billion.
AbbVie expects full-year earnings in the range of $11.13 to $11.33 per share.
AbbVie shares have risen nearly 8% since the beginning of the year, while the S&P’s 500 index has climbed roughly 6%. The stock has climbed slightly more than 1% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ABBV at https://www.zacks.com/ap/ABBV
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