AbbVie Earnings: ABBV Stock Pops on Q2 Beat

AbbVie earnings for the second quarter of 2019 have ABBV stock up on Friday.

AbbVie Earnings: ABBV Stock Pops on Q2 Beat

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AbbVie (NYSE:ABBV) reported earnings per share of $2.26 for the second quarter of the year. This is an increase over the company’s earnings per share of $2.00 from the same time last year. It was also good news for ABBV stock by beating out Wall Street’s earnings per share estimate of $2.21 for the quarter.

Net income reported in the AbbVie earnings release for the second quarter of 2019 comes in at $741 million. This is a drop from the company’s net income of $1.98 billion reported in the second quarter of the previous year.

The AbbVie earnings report for the second quarter of the year also has operating income coming in at $3.40 billion. That’s better than the biopharmaceutical company’s operating income of $2.76 billion reported in the same period of the year prior.

AbbVie earnings for the second quarter of 2019 have it bringing in revenue of $8.26 billion. This is down from the company’s revenue of $8.28 billion reported in the second quarter of 2018. Despite this, it was still a boon to ABBV stock by coming in above analysts’ revenue estimate of $8.10 billion for the period.

The most recent AbbVie earnings report also includes an update to its 2019 outlook. The company is now expecting earnings per share for the year to range from $8.82 to $8.92. The previous guidance was for earnings per share between $8.73 and $8.83. Wall Street is looking for earnings per share of $8.82 for the year.

ABBV stock was up 2% as of noon Friday.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2019/07/abbvie-earnings-bump-abbv-stock/.

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