AbbVie posts earnings beat, declares dividend and moves toward $11 billion Apogee deal

AbbVie Inc. reported first‑quarter earnings that beat expectations, posting earnings per share of $2.65 versus the $2.59 consensus and revenue of $15 billion, up 12.4% year‑over‑year. The results helped lift the stock 6.3% on the trading day, reaching a high of $232.32. The company also announced a quarterly dividend of $1.73 per share.

The pharmaceutical firm is close to acquiring Apogee Therapeutics in a deal valued at about $10.9 billion, aimed at expanding its eczema and inflammatory‑disease pipeline. Institutional investors increased stakes in AbbVie during the quarter, with Westmount Partners LLC adding 7,178 shares and other funds such as Nations Financial Group and Physicians Financial Services also boosting holdings.