NORTH CHICAGO, Ill. (AP) — NORTH CHICAGO, Ill. (AP) — AbbVie Inc. (ABBV) on Friday reported first-quarter profit of $1.29 billion.
The North Chicago, Illinois-based company said it had net income of 72 cents per share. Earnings, adjusted for amortization costs and non-recurring costs, came to $2.46 per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.39 per share.
The drugmaker posted revenue of $13.34 billion in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $12.91 billion.
AbbVie expects full-year earnings in the range of $12.09 to $12.29 per share.
AbbVie shares have increased 1.5% since the beginning of the year, while the S&P’s 500 index has declined nearly 7%. The stock has climbed 7.5% 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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