AbbVie Q1 2024 Adj EPS $2.31 Beats $2.23 Estimate, Sales $12.310B Beat $11.923B Estimate
Portfolio Pulse from Benzinga Newsdesk
AbbVie (NYSE:ABBV) reported Q1 2024 adjusted EPS of $2.31, surpassing the $2.23 estimate, and sales of $12.310B, exceeding the $11.923B estimate. This represents a 6.1% decrease in EPS and a 0.70% increase in sales year-over-year.
April 26, 2024 | 11:37 am
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AbbVie reported a Q1 2024 adjusted EPS of $2.31, beating estimates, and sales of $12.310B, also above expectations. EPS saw a 6.1% decrease while sales increased by 0.70% compared to last year.
AbbVie's earnings and sales beat are likely to positively impact investor sentiment in the short term. The beat on both top and bottom lines indicates operational efficiency and market strength, despite the year-over-year decrease in EPS. This mixed result, with a beat on expectations but a slight decrease in EPS compared to the previous year, suggests a cautiously optimistic outlook for the stock. The increase in sales, albeit modest, further supports the potential for a positive short-term price movement.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100