Humira Helps AbbVie -- Earnings Review
April 26 2018 - 9:15AM
Dow Jones News
By Austen Hufford
AbbVie Inc. (ABBV) reported results for its first quarter
Thursday. Here's what you need to know:
REVENUE: The company reported that total revenue rose 21% to
$7.93 billion. Analysts polled by Thomson Reuters had expected
$7.59 billion.
EARNINGS: The company brought in a profit of $2.78 billion, or
$1.74 a share, compared to $1.71 billion, or $1.06 a share, in the
same period a year before. On an adjusted basis, the company had
EPS of $1.87, above the $1.79 expected by analysts.
SHARES: In premarket trading, shares rose 2.3%.
CEO QUOTE: "AbbVie is off to an excellent start in 2018,
delivering first quarter revenue and EPS growth well ahead of
expectations," Chief Executive Richard Gonzalez said.
TENDER OFFER: The company said it plans to start a tender offer
to purchase up to $7.5 billion of its shares through a modified
"Dutch auction." The offer is part of its $10 billion stock
repurchase program.
OUTLOOK: The company raised its adjusted EPS guidance for 2018
$7.66 to $7.76, from $7.33 to $7.43 previously.
HUMIRA: Total Humira sales increased 14%, or 11% excluding
currency impact. In the U.S., Humira sales grew 11% while
internationally sales grew 9.3%, excluding foreign exchange
impact.
Write to Austen Hufford at Austen.Hufford@wsj.com
(END) Dow Jones Newswires
April 26, 2018 09:00 ET (13:00 GMT)
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