AbbVie Q1 adjusted EPS $2.31 (-6.1% YoY); raises 2024 guidance; CEO succession

AbbVie Inc.

2024-Q1 EPS reported $0.77 revenue$12,310,000,000

Q1 revenue $12.31B (+0.7% reported, +1.6% operational); GAAP EPS $0.77, adjusted EPS $2.31.
Immunology revenue $5.371B (-3.9%) on Humira erosion; Skyrizi +47.6%, Rinvoq +59.3%.
Oncology +9% to $1.543B; Neuroscience +15.9% to $1.965B; Aesthetics -4% to $1.249B.
Raises 2024 adjusted EPS guidance to $11.13-$11.33 from $10.97-$11.17; includes $0.08 IPR&D impact.
CEO succession: Robert Michael to become CEO July 1; Richard Gonzalez becomes executive chairman.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

AbbVie Inc. reported the first quarter ended March 31, 2024 results: revenue $12.310 Billion, EPS Diluted EPS of $0.77 on a GAAP Basis. Guidance raised.

Period: the first quarter ended March 31, 2024
Revenue: $12.310 Billion
EPS: Diluted EPS of $0.77 on a GAAP Basis
Guidance: raised
Result: reported results

Exact text from the filing

Decrease of 6.1 Percent; These Results Include an Unfavorable Impact of $0.08 Per Share Related to Acquired IPR&D and Milestones Expense • Delivers First-Quarter Net Revenues of $12.310 Billion, an Increase of 0.7 Percent on a Reported Basis and 1.6 Percent on an Operational Basis • First-Quarter Global Net Revenues from the Immunology Portfolio Were $5.371 Billion, a

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Source: SEC EDGAR

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