NORTH CHICAGO, Ill. (AP) — NORTH CHICAGO, Ill. (AP) — AbbVie Inc. (ABBV) on Wednesday reported first-quarter earnings of $695 million.
The North Chicago, Illinois-based company said it had net income of 39 cents per share. Earnings, adjusted for non-recurring costs and amortization costs, were $2.65 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.62 per share.
The drugmaker posted revenue of $15 billion in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $14.78 billion.
AbbVie expects full-year earnings in the range of $14.08 to $14.28 per share.
AbbVie shares have fallen 13% since the beginning of the year, while the S&P’s 500 index has risen slightly more than 4%. The stock has increased nearly 3% 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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