Please ensure Javascript is enabled for purposes of website accessibility

AbbVie Beats Q1 Estimates as U.S. Humira Sales Rise 13.7%

By Keith Speights – May 1, 2020 at 11:04AM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The drugmaker also posted strong sales for its blood cancer and new immunology treatments.

AbbVie (ABBV -1.29%) reported its first-quarter results before the market opened on Friday, announcing revenue that rose 10.1% year over year to $8.62 billion. That result topped the average analysts' estimate of $8.33 billion. The giant drugmaker's adjusted diluted earnings were $2.42 per share, a solid increase from $2.14 per share in the prior-year period, and well above analysts' consensus estimate of $2.25 per share. 

Humira still leading the way

Sales of immunology drug Humira rose 5.8% year over year to $4.7 billion and accounted for nearly 55% of AbbVie's total revenue. International sales for the drug slid 14.9% $1.05 billion due to biosimilar competition. However, strength in the U.S. market, where sales jumped 13.7% to $3.7 billion, more than offset that decline.

Pills forming shape of a dollar sign

Image source: Getty Images.

AbbVie's new immunology drugs Skyrizi and Rinvoq also gained significant momentum. Skyrizi generated sales of $300 million in the quarter and Rinvoq raked in $86 million.

Blood cancer drug Imbruvica continued to perform well, with sales soaring 20.6% year over year to $1.2 billion. Sales for another blood cancer drug, Venclexta, more than doubled year over year to $317 million.

One notable weak spot for AbbVie in the first quarter was its hepatitis C virus franchise, where sales plunged 30.8% year over year to $564 million. 


AbbVie lowered its 2020 earnings per share guidance based on generally accepted accounting principles (GAAP) from a range of $7.66 to $7.76 to a range of $7.60 to $7.70. However, it confirmed its full-year adjusted EPS guidance of between $9.61 and $9.71. The company projects adjusted EPS in the second quarter of between $2.10 and $2.16.

Keith Speights owns shares of AbbVie. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

AbbVie Inc. Stock Quote
AbbVie Inc.
$141.21 (-1.29%) $-1.85

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
S&P 500 Returns

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 09/26/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.