AbbVie Inc (ABBV) Q2 Beat Fueled by Best World’s Best-Selling Drug

Sales of ABBV's Humira rheumatoid arthritis treatment increase 13.7%

By InvestorPlace Staff

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.

  • 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.”

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