FX.co ★ AbbVie Q1 Profit Increases, beats estimates

AbbVie (ABBV) recently announced an increase in earnings for its first quarter which surpassed the projected estimates. The earnings for the company stood at $1.37 billion, equivalent to $0.77 per share. This showed a significant increase from last year's first quarter when the earnings were $239 million, equivalent to $0.13 per share.

When excluding specific items, AbbVie’s adjusted earnings amounted to $4.12 billion or $2.31 per share for the given period. According to data compiled by Thomson Reuters, analysts had estimated on average, that the company would earn $2.23 per share. It is important to note that typically, these analysts' forecasts exclude unique items.

The company also recorded a 0.7% increase in revenue for this quarter, rising to $12.31 billion from $12.23 billion as recorded the previous year.

Here's a snapshot of AbbVie earnings (GAAP):

- Earnings (Q1):$1.37 billion, a considerable increase from $239 million last year

- EPS (Q1): $0.77, up from $0.13 last year

- Revenue (Q1): $12.31 billion, a slight increase from $12.23 billion in the previous year

The company also provided full-year EPS guidance between $11.13 and $11.33.