ABBV AbbVie Inc

By Matt Grossman

AbbVie Inc. Friday recorded first-quarter profit and revenue growth as sales accelerated across the company's portfolio of medications.

The Chicago-based pharmaceutical company logged first-quarter earnings of $1.99 a share, compared with $2.02 a share the same period a year earlier. Earnings attributable to the company rose to $3.55 billion, from $3.01 billion the same period last year.

On an adjusted basis, AbbVie's profit was $2.95 a share. Analysts surveyed by FactSet had forecast an adjusted profit of $2.81 a share.

Revenue increased to $13.01 billion, from $8.62 billion last year. Analysts were expecting revenue of $12.77 billion.

Sales of immunology drugs, AbbVie's largest segment, grew by 12.9% year over year to $5.74 billion. Hematologic oncology, aesthetics and neuroscience portfolio drugs all also notched higher sales year over year.

Write to Matt Grossman at matt.grossman@wsj.com

(END) Dow Jones Newswires

April 30, 2021 08:11 ET (12:11 GMT)

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