Why AbbVie Stock Topped the Market Today

A pair of convincing quarterly earnings beats -- not to mention a profitability guidance raise -- made AbbVie (NYSE: ABBV) stock an investor darling on Friday. The pharmaceutical company's performance pushed its stock to a more than 3% gain on the day, well higher than the 0.6% bump of the bellwether S&P 500 index it's a part of.For its first quarter of this year, AbbVie's net revenue was $13.3 billion, representing a sturdy 8% improvement on a year-over-year basis. Much of this was due to a nearly 17% rise in sales of immunology drugs like the popular Skyrizi and Rinvoq; collectively this portfolio brought in nearly half of total revenue, at just under $6.3 billion.Net income went in the opposite direction, although not to an alarming degree. AbbVie's Non-GAAP (adjusted) bottom-line profitability slid to $1.29 billion ($2.46 per share) from the year-ago profit of $1.37 billion.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool