AbbVie Q1 Profit Increases, beats estimates

(RTTNews) - AbbVie (ABBV) revealed earnings for its first quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $1.37 billion, or $0.77 per share. This compares with $239 million, or $0.13 per share, in last year's first quarter.

Excluding items, AbbVie reported adjusted earnings of $4.12 billion or $2.31 per share for the period.

Analysts on average had expected the company to earn $2.23 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 0.7% to $12.31 billion from $12.23 billion last year.

AbbVie earnings at a glance (GAAP) :

-Earnings (Q1): $1.37 Bln. vs. $239 Mln. last year. -EPS (Q1): $0.77 vs. $0.13 last year. -Revenue (Q1): $12.31 Bln vs. $12.23 Bln last year.

-Guidance: Full year EPS guidance: $11.13 - $11.33