AbbVie (NYSE:ABBV) stock is the top trending ticker on Yahoo Finance on Thursday as investors are pumped up about news from the pharmaceutical company’s latest earnings report.
AbbVie started its earnings report for the second quarter with adjusted EPS of $2.65. That’s just below the $2.66 per share that Wall Street was expecting. That’s also down 8.9% from the same period of the year prior.
Even so, AbbVie’s revenue of $14.462 billion easily comes in above analysts’ estimate of $14.03 billion. It also represents a 4.3% increase from the $13.87 billion reported during the second quarter of 2023.
AbbVie CEO Robert Michael said the following in the company’s Q2 earnings report:
“Our business continues to perform exceptionally well, with second quarter results meaningfully ahead of our expectations. Based upon the significant momentum of our ex-Humira growth platform, our continued investments in the business and our pipeline progress, we are very well positioned to deliver our top-tier long-term outlook.”
AbbVie Stock News: 2024 Outlook Raised
ABBV increased its adjusted EPS outlook for the full year of 2024 from between $10.61 and $10.81 to between $10.71 and $10.91. That’s looking good next to Wall Street’s 2024 estimate of $9.93 per share.
ABBV stock is up 5.2% as of Thursday morning, with more than 2.4 million shares traded. The company’s daily average trading volume is about 5.5 million shares.
Below are plenty more stock market stories traders need to know!
We have all of the hottest stock market news for investors to read about on Thursday! Among that is what has shares of Warner Bros. Discovery (NASDAQ:WBD) stock, Chipotle (NYSE:CMG) stock and 2U (NASDAQ:TWOU) stock moving today. You can read up on all of these matters at the following links!
More Stock Market News for Thursday
- NBA Slams Warner Bros. Discovery (WBD) Stock with Deal Rejection
- CMG Stock Alert: Chipotle Plans to Take a Hit From Bigger Portions
- TWOU Stock Alert: 2U Plunges on Ch. 11 Bankruptcy Filing
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
