Shares of (NYSE: ABBV) were jumping 7.1% higher as of 11:10 a.m. ET on Friday after rising as much as 9.2% earlier in the day. The nice gain stemmed from the big drugmaker's 2024 fourth-quarter update on Friday morning.

AbbVie reported Q4 net revenue of $15.1 billion, up 5.6% and higher than the average estimate of $14.87 billion of analysts surveyed by Zacks Investment Research. The company posted a loss in Q4 of $0.02 per share based on generally accepted accounting principles (GAAP). However, it recorded adjusted diluted earnings per share (EPS) of $2.16. The average analysts' estimate was for adjusted EPS of $2.13, according to Zacks.

If you're thinking AbbVie's Q4 results weren't spectacular enough to spark such a big jump, you're right. However, there was more to the story with the company's quarterly update.

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Source Fool.com