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Mar 31, 2024
AbbVie Q1 2024 Earnings Report
AbbVie's Q1 2024 financial results were reported, showing revenue increase and adjusted EPS decrease.
Key Takeaways
AbbVie reported a 0.7% increase in net revenues to $12.310 billion for Q1 2024. GAAP diluted EPS was $0.77, while adjusted diluted EPS was $2.31, a decrease of 6.1 percent. The company has raised its full-year adjusted diluted EPS guidance.
First-quarter net revenues reached $12.310 billion, a 0.7% increase on a reported basis.
GAAP diluted EPS was reported at $0.77, a 492.3% increase, while adjusted diluted EPS was $2.31, a 6.1% decrease.
Global net revenues from the immunology portfolio were $5.371 billion, a 3.9% decrease.
The company raised its 2024 adjusted diluted EPS guidance range to $11.13 - $11.33.
Forward Guidance
AbbVie is raising its adjusted diluted EPS guidance for the full year 2024 from $10.97 - $11.17 to $11.13 - $11.33, which includes an unfavorable impact of $0.08 per share related to acquired IPR&D and milestones expense incurred during the first quarter 2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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