AbbVie Raises Adjusted Profit Guidance
April 25 2019 - 8:43AM
Dow Jones News
By Micah Maidenberg
AbbVie Inc. (ABBV) said it earned a higher-than-expected
adjusted profit in the first quarter and increased its earnings
forecast for the year.
The North Chicago, Ill.-based drug company reported $2.14 per
share for the quarter after adjustments, beating the $2.06 a share
analysts expected, according to FactSet.
The company said it is raising its previously announced adjusted
profit outlook for the year to $8.73 to $8.83 a share, from $8.65
to $8.75 a share.
Overall, AbbVie said profit fell to $2.46 billion, or $1.65 a
share, from $2.78 billion, or $1.74 a share, in the first quarter
of last year.
Revenue ticked down 1.3% to $7.83 billion, but that was more
than what analysts predicted.
Domestic sales of Humira, which is used to treat arthritis and
other illness, rose 7% to $3.22 billion, AbbVie said.
Write to Micah Maidenberg at micah.maidenberg@wsj.com
(END) Dow Jones Newswires
April 25, 2019 08:28 ET (12:28 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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