AbbVie Shares Climb 4.8% As Profit And Sales Beat

AbbVie Inc. shares rose 4.8% in premarket trade Friday, after the drug maker beat profit and sales estimates and raised its full-year outlook. The company said it had net income of $1.24 billion, or 74 cents a share, up from $506 million, or 31 cents a share, in the year-earlier period. Excluding special items, the company had adjusted EPS of $1.13, ahead of the FactSet consensus of $1.08. Revenue climbed to $5.94 billion from $5.02 billion, also ahead of the FactSet consensus of $5.89 billion. Sales were bolstered by a 19.6% rise in global sales of Humira, a treatment for rheumatoid arthritis and other diseases. The company said it is now raising its adjusted EPS outlook for 2015 to $4.26 to $4.28, compared with the current FactSet consensus of $4.24. Shares are down 17.3% in the year so far, while the S&P 500 has gained 1.5%.