AbbVie (ABBV) lifted its full-year outlook on Friday as the biopharmaceutical company recorded first-quarter results above market expectations, buoyed by sharp revenue gains from its Skyrizi and Rinvoq immunology drugs.

Per-share adjusted earnings are now set to come in between $12.09 and $12.29 for 2025, up from its previous guidance of $11.99 to $12.19. The guidance includes a $0.13 headwind related to acquired in-process research and development and milestone expenses incurred year-to-date through the first quarter. The current consensus on FactSet is for non-GAAP EPS of $12.16.

Revenue is pegged at about $59.7 billion, representing an increase of $700 million, Chief Financial Officer Scott Reents said on an earnings call, according to a FactSet transcript. The Street is looking for $59.53 billion.

"The fundamentals of our business are strong and we continue to bolster our outlook with pipeline advancements and strategic investments," Chief Executive Robert Michael said in a statement. "Based on the progress we are making, AbbVie is well positioned for the long term."

The drugmaker said its outlook is based on the current trade environment and doesn't reflect any potential changes in policies, including pharmaceutical tariffs, that could impact its business. "While it's difficult to quantify in the absence of actual policy details, it's worth noting any related unfavorability in 2025 would reflect a partial year," Reents said on the call.

Earlier this month, US President Donald Trump declared a 90-day pause on reciprocal levies for non-retaliating countries. However, the US and China have been in a deadlock, having raised tariffs on each other's goods multiple times.

AbbVie has a significant manufacturing presence in the US and plans to add four new plants to its network, according to Reents.

The company reported adjusted EPS of $2.46 for the March quarter, up from $2.31 the year before and ahead of the Street's view for $2.38. Revenue improved 8.4% year over year to $13.34 billion, surpassing the average analyst estimate on FactSet for $12.92 billion.

Global sales from the immunology portfolio climbed 17% to $6.26 billion, as gains of 71% and 57% in Skyrizi and Rinvoq helped counter a 51% drop in Humira. "Overall, Skyrizi and Rinvoq are demonstrating impressive results across all of their approved indications," Chief Commercial Officer Jeff Stewart said on the call.

In the oncology segment, revenue advanced 5.8% to $1.63 billion, aided by an 8.3% increase in leukemia medication Venclexta. The neuroscience division logged revenue growth of 16% to $2.28 billion while the aesthetics portfolio fell 12% to $1.1 billion. Eye care sales slipped 5.7% to $506 million.

For the ongoing three-month period, AbbVie anticipates adjusted EPS to be in a range of $3.26 to $3.30 and revenue of roughly $15 billion. The market is currently estimating non-GAAP EPS of $3.06 and sales of $14.78 billion.