AbbVie’s Q1 earnings beat expectations as arthritis drug boosts growth

AbbVie’s earnings came in at $1.37 billion, or $0.77 per share.
The company's revenue reached $12.31 billion, with an increase of 0.7% on a reported basis.
The net interest expense was $453 million, and the tax rate in the quarter was 21.8%.

Pharmaceuticals company AbbVie (NYSE: ABBV) reported its Q1 financial results for 2024 today.

AbbVie’s earnings came in at $1.37 billion, or $0.77 per share, as compared with $239 million, or $0.13 per share, in Q1 of FY23.

The company's revenue reached $12.31 billion, with an increase of 0.7% on a reported basis, or 1.6% on an operational basis; and above the predicted $11.93 billion.

The net interest expense was $453 million, and the tax rate in the quarter was 21.8%.