ABBV stock turns positive in the pre-market session after AbbVie Inc (NYSE:ABBV) reported higher than estimated first-quarter profit and revenue. Moreover, the company raised its EPS guidance for FY21.
AbbVie beats by $0.10, beats on revs; raises FY21 EPS in-line (110.89) Reports Q1 (Mar) earnings of $2.95 per share, excluding non-recurring items, $0.10 better than the S&P Capital IQ Consensus of $2.85.
Revenues grew 50.9% year over year to $13.01 billion, better than the $12.84 billion S&P Capital IQ Consensus.
Global net revenues from the immunology portfolio were $5.744 billion, an increase of 12.9 percent on a reported basis, or 11.8 percent on an operational basis.
Moreover, the company raised guidance for FY21, sees EPS of $12.37-12.57 from $12.32-12.52 against $12.43 S&P Capital IQ Consensus.
ABBV stock is trading higher by 2.21% at $113.34 in pre-market trading.
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