AbbVie (NYSE: ABBV) reported its first quarter 2020 earnings results, which surpassed the market’s views. Adjusted EPS of $2.42 and revenue of $8.62 billion, topped analysts’ EPS target of $2.25 and revenue target of $8.33 billion. For fiscal 2020, the drug manufacturer lifted its 2020 GAAP EPS outlook, while reaffirmed the non-GAAP EPS target. ABBV stock rose about 1% in the pre-market session.
AbbVie lifted its standalone GAAP EPS guidance for the full-year 2020 to $7.66 to $7.76 from an earlier range of $7.60 to $7.70, representing growth of 44.9% at the midpoint and confirmed the previous expectation of standalone adjusted diluted EPS of $9.61 to $9.71, representing growth of 8.1% at the midpoint.
AbbVie has initiated the Phase 2 iNSPIRE clinical trial to evaluate the potential of IMBRUVICA drug to treat patients with moderate to severe COVID-19. AbbVie is also supporting COVID-19 clinical research by collaborating with health authorities and institutions globally to determine antiviral activity as well as efficacy and safety of KALETRA/ALUVIA, the company’s antiretroviral therapy for the treatment of HIV, against COVID-19.
After reaching a 52-week high ($97.86) February 12, ABBV stock fell to its yearly low ($62.55) on March 23. ABBV shares have retreated 7% since the beginning of this year.
Lockheed Martin Corp. (NYSE: LMT) today reported its first quarter financial results for the period ended March 28, 2021. Net income for the first quarter was $1.8 billion, or $6.56
Tobacco giant Philip Morris International (NYSE: PM) on Tuesday reported first-quarter earnings and revenues that beat analysts' forecast. First-quarter earnings, adjusted for special items, rose to $1.57 per share from
Abbott Laboratories (NYSE: ABT) reported first quarter 2021 earnings results today. Sales increased 35.3% year-over-year to $10.5 billion. On an organic basis, sales growth was 32.9%. On a GAAP basis,