Abbvie Inc. (US:ABBV) shares rose today after the release of its profit for the first quarter of the year.
Source: black stripe via wikimedia (modified)
During the first quarter of 2018, the company abbvie Inc reported earnings per share of $1.89. This is more than the earnings per share of $1.28 with the same period last year. He also blew out earnings on wall Street per share estimate of $1.79 for the quarter and the good news for ABBV shares.
The company’s net income abbvie Inc in the marked in the first quarter of the year was 2.78 billion dollars. This is a major leap for the net income of pharmaceutical company 1.71 billion reported in the first quarter of 2017.
Operating profit reported by the company abbvie Inc. for the first quarter of 2018 was 2.90 billion. The company’s operating profit over the same period of the year prior to the year to 2.41 billion$.
Company abbvie Inc. also reported a profit of 7.93 billion for the first quarter of the year. It’s from his sales of 6.54 billion dollars, which was reported in the first quarter of the previous year. It was also good for ABBV shares, coming in above estimates of analysts revenues of 7.60 billion.
The most recent statement of income abbvie Inc. also includes an update to its guidance for 2018. The company says it now expects earnings per share for the year in the range of $7.66 to $7.76. It’s previous forecast was for earnings per share between $7.33 and 7.43$. Wall Street is looking for earnings per share 7.55 $in 2018.
ABBV shares rose 3% Thursday morning.
At the time of this writing, William white not to take a position in any of the above securities.