Abbvie (ABBV) and NASDAQ OMX (NDAQ) released their earnings reports this morning before opening bell.
Abbvie reported adjusted earnings of 94 cents per share, a 32.4% increase which exceeded management’s guidance, on $5.04 billion in revenue, a 17.8% increase operationally, for its first quarter. Analysts had been expecting earnings of 85 cents per share on $4.98 billion in revenue.
NASDAQ OMX reported earnings of 80 cents per share, coming out 1 cent per share ahead of the consensus estimate. The stock exchange operator reported revenue of $507 million, missing the consensus of $533.83 million for the quarter.
Key metrics from Abbvie’s earnings report
Abbvie’s GAAP earnings were 63 cents per share. Adjusted gross margin expanded to 82.9% of sales, while adjusted operating margin increased to 40.1%.
The drug maker said continued strength of arthritis drug Humira drove its sales growth in the first quarter, rising 18% or 26% operationally. Abbvie also introduced hepatitis C drug Viekira during the quarter, which also drove growth in sales.
Abbvie also increased its guidance for full year adjusted earnings per share. Management now expects earnings of between $4.10 and $4.30 per share. The previous guidance was between $4.05 and $4.25 per share. They project GAAP earnings of between $3.57 and $3.77 per share.
Key metrics from NASDAQ OMX’s earnings report
NASDAQ OMX posted GAAP earnings of 5 cents per share for the first quarter.
The company’s Market Services made up 37% of total revenues, amounting to $188 million, a $20 million decline year over year. NASDAQ’s Information Services business was 25% of total net revenues, rising by $2 million to $125 million during the first quarter. The company’s Technology Solutions business was 26% of its total net revenues, amounting to $130 million after a $10 million year over year decline. NASDAQ’s Listing Services business made up 12% of its revenues, amounting to $64 million thanks to a $6 million increase from last year.