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AbbVie Inc. reported its financial results for the first quarter before the market open on Friday in the US.
The biotechnology and pharmaceutical company reported revenue just shy of expectations at $13.538 billion (a 4.1% increase year-over-year) in Q1 vs. $13.662 billion expected.
Earnings per share reported at $3.16 per share (a 9.3% increase year-over-year) vs. $3.14 per share expected.
“This year is off to a strong start. Our first quarter results highlight the diversity of our portfolio and include compelling performance from key growth drivers Skyrizi, Rinvoq, Aesthetics and Neuroscience,” Richard A. Gonzalez, Chairman and CEO of the company said in a press release following the first quarter results.
“Our momentum combined with ramping contributions from new products and new indications will drive accelerating revenue and EPS growth through the rest of the year,” he added.
AbbVie Inc. chart
Shares of AbbVie fell by 6.03% on Friday, trading at $144.96 a share.
Here is how the stock has performed in the past year:
AbbVie Inc. price targets
AbbVie Inc. is the 33rd largest company in the world with a market cap of $259.43 billion.
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Sources: AbbVie Inc., TradingView, CompaniesMarketCap
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