By Mackenzie Tatananni

AbbVie stock climbed in early trading Friday after the pharmaceutical company reported fourth-quarter and full-year results that topped analysts' expectations.

Shares of the biopharma company jumped 5.2% to $184.80.

AbbVie reported earnings of $2.16 a share for the December quarter, narrowly beating estimates of $2.12 a share. Fourth-quarter net revenue of $15.1 billion also beat the forecast of $14.8 billion.

Full-year net revenue of $56.3 billion narrowly surpassed Wall Street's call for $56 billion, while earnings of $10.12 beat the FactSet consensus estimate of $10.08 but marked an 8.9% decrease from the prior year.

The pharma company reaffirmed its expectations for a high single-digit compound annual revenue growth rate through 2029.

AbbVie also issued its 2025 guidance. The company anticipates earnings in a range of $12.12 to $12.32 a share. Analysts surveyed by FactSet expected $12.15 a share.

AbbVie reported global net revenues of $7.3 billion for its immunology portfolio, a 4.9% increase on a reported basis, or 5.3% on an operational basis.

The portfolio includes Humira, the company's blockbuster autoimmune drug, which saw global revenues decline nearly 50% in the quarter. The anti-inflammatory medicine lost its market exclusivity in 2023, enabling competitors like Amgen to make lower-cost versions called biosimilars.

Global net revenue from AbbVie's oncology portfolio was $1.7 billion, an increase of 12% percent on a reported basis, or 12.9% on an operational basis.

The maker of Botox also reported net revenue of $1.3 billion for its aesthetics portfolio, a decrease of 5.2% on a reported basis, or 4.4% on an operational basis.

AbbVie CEO Robert Michael called 2024 "a year of significant progress" for the company.

"Our growth platform delivered outstanding results, we advanced our pipeline with key regulatory approvals and promising data, and we strengthened our business through strategic transactions," Michael said.

"We are entering 2025 with significant momentum and expect net revenues to exceed their previous peak in just the second full year following the U.S. Humira loss of exclusivity," he added.

Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

January 31, 2025 08:47 ET (13:47 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.