Biopharmaceutical company AbbVie, Inc. (ABBV), while reporting weak profit in its first quarter despite revenue growth, on Wednesday raised outlook for fiscal 2026 adjusted earnings.
In pre-market activity, the shares were gaining around 2.3 percent, trading at $202.00.
For fiscal 2026, the company now expects adjusted earnings per share in a range of $14.08 to $14.28ious estimate of $13.96 to $14.16. The outlook includes an unfavorable impact of $0.41 per share related to acquired IPR&D and milestones expense.
In the first quarter, the company's bottom line came in at $695 million or $0.39 per share, compared with $1.28 billion or $0.72 per share last year.
Adjusted earnings were $4.71 billion or $2.65 per share for the period.
The company's revenue for the period rose 12.5 percent to $15.01 billion from $13.34 billion last year. Net revenues increased 10.3 percent on an operational basis.
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