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Apple reportedly designing its own AI chips for data centres

AbbVie (ABBV) Reports Q1 Earnings: What Key Metrics Have to Say

Zacks Equity Research
·3 min read

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.

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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.

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