AbbVie Q1 Profit Drops, Inline With Estimates

(RTTNews) - AbbVie (ABBV) reported earnings for first quarter that decreased from last year in line with the Street estimates.

The company's earnings totaled $239 million, or $0.13 per share. This compares with $4.49 billion, or $2.51 per share, in last year's first quarter.

Excluding items, AbbVie reported adjusted earnings of $4.39 billion or $2.46 per share for the period.

Analysts on average had expected the company to earn $2.46 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 9.7% to $12.23 billion from $13.54 billion last year.

AbbVie earnings at a glance (GAAP) :

-Earnings (Q1): $239 Mln. vs. $4.49 Bln. last year. -EPS (Q1): $0.13 vs. $2.51 last year. -Analyst Estimates: $2.46 -Revenue (Q1): $12.23 Bln vs. $13.54 Bln last year.

-Guidance: Full year EPS guidance: $10.72 - $11.12