News

For the quarter ended March 2024, AbbVie (ABBV) reported revenue of $12.31 billion, up 0.7% over the same period last year. EPS came in at $2.31, compared to $2.46 in the year-ago quarter.

The reported revenue represents a surprise of +2.65% over the Zacks Consensus Estimate of $11.99 billion. With the consensus EPS estimate being $2.26, the EPS surprise was +2.21%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how AbbVie performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Net Revenue- Rinvoq- US: $725 million versus $717.23 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +61.5% change.
• Net Revenue- Immunology- Skyrizi- US: $1.66 billion compared to the $1.64 billion average estimate based on six analysts. The reported number represents a change of +45.4% year over year.
• Net Revenue- Rinvoq- International: $368 million compared to the $331.67 million average estimate based on six analysts. The reported number represents a change of +55.3% year over year.
• Net Revenue- Immunology- Skyrizi- International: $352 million compared to the $323.28 million average estimate based on six analysts. The reported number represents a change of +59.3% year over year.
• Net Revenue- Eye Care- Total: $538 million compared to the $565.16 million average estimate based on seven analysts. The reported number represents a change of -11.5% year over year.
• Net Revenue- Aesthetics- Total: $1.25 billion compared to the $1.34 billion average estimate based on seven analysts. The reported number represents a change of -3.9% year over year.
• Net Revenue- Immunology- Total: $5.37 billion versus $5.23 billion estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a -3.9% change.
• Net Revenue- Hematologic Oncology- Total: $1.54 billion versus the seven-analyst average estimate of $1.35 billion. The reported number represents a year-over-year change of +9%.
• Net Revenue- Neuroscience- Total: $1.97 billion versus the seven-analyst average estimate of $1.93 billion. The reported number represents a year-over-year change of +15.9%.
• Net Revenue- Other Aesthetics- Total: $319 million versus $290.72 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +11.5% change.
• Net Revenue- Other Neuroscience- Total: $74 million versus $60.24 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -6.3% change.
• Net Revenue- Rinvoq- Total: $1.09 billion compared to the $1.05 billion average estimate based on six analysts. The reported number represents a change of +59.3% year over year.

View all Key Company Metrics for AbbVie here>>>

Shares of AbbVie have returned -8.1% over the past month versus the Zacks S&P 500 composite's -3.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

Buy 5 Stocks BEFORE Election Day

Biden or Trump? Zacks is releasing a FREE Special Report, Profit from the 2024 Presidential Election (no matter who wins).

Since 1950, presidential election years have been strong for the market. This report names 5 timely stocks to ride the wave of electoral excitement.

They include a medical manufacturer that gained +11,000% in the last 15 years… a rental company absolutely crushing its sector… an energy powerhouse planning to grow its already large dividend by 25%... an aerospace and defense standout that just landed a potentially $80 billion contract… and a giant chipmaker building huge plants in the U.S.

Don’t Wait. Download FREE >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

To read this article on Zacks.com click here.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.