AbbVie Inc Beats Estimates; Reaffirms FY2014 Guidance (ABBV)

Abbvie Inc (ABBV) reported its first quarter earnings before the opening bell on Friday, posting higher revenues and beating analysts’ earnings estimates.

ABBV’s Earnings in Brief

AbbVie reported first quarter revenues of $4.56 billion, marking a 5.4% increase from last year’s Q1 revenues of $4.33 billion. Net earnings for the quarter were up slightly to $980 million from $968 million. The company's earnings per diluted share came in at 71 cents, which was up from the 68 cents reported for last year’s Q1. AbbVie beat analysts’ estimates of 68 cents EPS on revenues of $4.33 billion. AbbVie confirmed its adjusted 2014 guidance range of $3.00 to $3.10 EPS.

CEO Commentary

AbbVie’s chairman and CEO, Richard A. Gonzalez, made the following comments about the pharmaceutical company’s earnings: ”AbbVie delivered strong first-quarter results, with sales and earnings per share above our original guidance, significant margin expansion, and increased R&D and SG&A investment to support our existing portfolio and our promising pipeline opportunities. As we look ahead to the remainder of 2014, we continue to expect a significant amount of progress from our pipeline.  This includes key data presentations, phase transitions, regulatory submissions, and U.S. approval of our interferon-free HCV combination in 2014.”

Best Gas Stocks To Invest In Right Now

ABBV’s Dividend

AbbVie raised its dividend from 40 cents to 42 cents in February. The company’s next dividend is payable on May 15 to all shareholders on record as of April 11.

Stock Performance

AbbVie stock is up 93 cents, or 1.89%, in pre-market trading. YTD, the stock is down 5.12%.

ABBV Dividend Snapshot

As of Market Close on April 24, 2014

Click here to see the complete history of ABBV dividends.