Pharma Giant AbbVie Surges on Strong Earnings Report
AbbVie’s stock soared early Friday after the company reported impressive fourth-quarter earnings, exceeding analyst expectations. The pharmaceutical giant posted adjusted earnings of $2.16 per share on $15.1 billion in sales, surpassing forecasts of $2.12 per share on $14.83 billion in sales.
Immunological Powerhouses Drive Growth
The company’s immunological stars, Skyrizi and Rinvoq, generated significant revenue, with Skyrizi sales rocketing nearly 58% year-over-year to $3.78 billion and Rinvoq sales jumping more than 46% to $1.83 billion. Both figures beat expectations, according to William Blair analyst Matt Phipps.
Guidance and Projections
For the year, AbbVie guided to adjusted earnings of $12.12 to $12.32 per share, in line with Street projections of $12.15 per share and $59.07 billion in sales. The company also expects its sales to grow by a high single-digit compounded annual rate through 2029.
Skyrizi and Rinvoq to Drive Future Growth
AbbVie now projects Skyrizi and Rinvoq will bring in more than $31 billion in 2027 sales, a $4 billion increase from its previous outlook. Additionally, the company’s aesthetics business, which includes Botox, is expected to grow by a high single-digit compounded annual rate through 2029.
Stock Jumps in Premarket Trades
In response to the strong earnings report, AbbVie stock surged more than 4% to 184.28 in premarket trades.
Other Market Movers
Evolus shares also made a doubly bullish move on Tuesday, driven by a strong preliminary fourth-quarter report and guidance for 2025.
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