AbbVie Stock Surges 1.5% After First-quarter Profit, Revenue Beats

By Emma Court Markets MarketWatch Pulse

AbbVie Inc. shares surged 1.5% in premarket trade Thursday after the company reported first-quarter profit and revenue beats. Earnings for the latest quarter rose to $1.71 billion, or $1.06 per share, from $1.35 billion, or 83 cents per share, in the year-earlier period. Adjusted earnings-per-share were $1.28, compared with the FactSet consensus of $1.26, Revenue rose to $6.54 billion from $5.96 billion, compared with the FactSet consensus of $6.48 billion. Revenue for AbbVie's Humira came in at $4.12 billion, above the FactSet consensus of $4.07 billion, as did sales of Imbruvica, at $551 million compared with the FactSet consensus of $540 million. The company said it expects adjusted EPS for 2017 of $5.44 to $5.54, compared with the FactSet consensus of $5.49. AbbVie shares have surged 8.4% over the last three months, compared with a 4.0% rise in the S&P 500 .

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