AbbVie Inc (ABBV) Q2 Beat Fueled by Best World’s Best-Selling Drug
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
AbbVie Inc (NYSE:ABBV) reported today that Q2 earnings rose to $1.92 billion, or $1.42 per share versus $1.61 billion, or 98 cents a share, last year. ABBV stock was little changed at 9:22 am ahead of the market open.
Source: Black Stripe via Wikimedia (Modified)
The Chicago-based biopharmaceutical company beat analysts estimates of $1.40 per share
AbbVie’s net revenue rose 7.6% to $6.94 billion; Analysts average forecast was $6.93 billion
ABBV said sales of Humira increased 13.7% to $4.72 billion in the quarter ended June 30; the rheumatoid arthritis treatment is the world’s top selling drug, according to Reuters
AbbVie management confirmed its 2017 GAAP diluted EPS guidance in the range of $4.55 to $4.65; 2017 adjusted diluted EPS guidance range of $5.44 to $5.54
Guidance reflects growth of 13.9% at the midpoint
ABBV stock is up almost 20% in past six months
InvestorPlace contributor Nicolas Chahine wrote on July 14 that ABBV stock “isn’t done charting new highs yet.”
More From InvestorPlace
The post AbbVie Inc (ABBV) Q2 Beat Fueled by Best World’s Best-Selling Drug appeared first on InvestorPlace.