AbbVie Beats Q1 Estimates as U.S. Humira Sales Rise 13.7%
AbbVie (NYSE: ABBV) reported its first-quarter results before the market opened on Friday, announcing revenue that rose 10.1% year over year to $8.62 billion. That result topped the average analysts' estimate of $8.33 billion. The giant drugmaker's adjusted diluted earnings were $2.42 per share, a solid increase from $2.14 per share in the prior-year period, and well above analysts' consensus estimate of $2.25 per share.
Sales of immunology drug Humira rose 5.8% year over year to $4.7 billion and accounted for nearly 55% of AbbVie's total revenue. International sales for the drug slid 14.9% $1.05 billion due to biosimilar competition. However, strength in the U.S. market, where sales jumped 13.7% to $3.7 billion, more than offset that decline.
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Source Fool.com
