AbbVie Rises on Q1 Beats, Raised EPS Guidance

AbbVie (NYSE:ABBV) stock was defying gravity on Friday, rising on the back of an encouraging first-quarter earnings report published this morning.

For the quarter, the veteran pharmaceutical company booked non-GAAP (adjusted) net revenue of just over $12.94 billion, a robust 50% over the Q1 2020 result. Net profit also saw a double-digit rise, increasing by 18% to $3.55 billion. On a non-GAAP per-share basis, AbbVie netted $2.95, up from the year-ago figure of $2.42.