AbbVie (ABBV) Tops Q1 EPS by 8c, Raises FY EPS Guidance

AbbVie (NYSE: ABBV) reported Q1 EPS of $1.87, $0.08 better than the analyst estimate of $1.79. Revenue for the quarter came in at $7.93 billion versus the consensus estimate of $7.6 billion.

GUIDANCE:

AbbVie sees FY2018 EPS of $7.66-$7.76, versus the consensus of $7.54.

The company also plans to commence a tender offer to purchase for cash up to $7.5 billion in value of shares of its common stock through a modified "Dutch auction" tender offer at a specified price range to be determined. AbbVie expects to commence the tender offer as early as May 1, 2018.

The tender offer forms a part of AbbVie's $10 billion stock repurchase program announced on February 15, 2018.

For earnings history and earnings-related data on AbbVie (ABBV) click here.

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