WASHINGTON (dpa-AFX) - AbbVie Inc. (ABBV), while announcing higher
first-quarter earnings, on Friday raised its outlook for fiscal 2024.

In pre-market activity on the NYSE, AbbVie shares were gaining around 1.7
percent to trade at $170.11.

For fiscal 2024, the company now expects adjusted earnings per share of $11.13
to $11.33, higher than previously expected $10.97 to $11.17 per share.

The outlook includes an unfavorable impact of $0.08 per share related to
acquired IPR&D and milestones expense incurred during the first quarter 2024.

Analysts on average expect the company to earn $11.1 per share, according to
figures compiled by Thomson Reuters. Analysts' estimates typically exclude
special items.

In its first quarter, AbbVie earnings increased from last year and beat the
Street estimates.

The company's earnings came in at $1.37 billion, or $0.77 per share. This
compares with $239 million, or $0.13 per share, in last year's first quarter.

Adjusted earnings were $4.12 billion or $2.31 per share for the period. Analysts
had expected the company to earn $2.23 per share.

The company's revenue for the quarter rose 0.7% to $12.31 billion from $12.23
billion last year.

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