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.”