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North Chicago, IL-based AbbVie Inc. (ABBV - Free Report) is best known for its autoimmune disease drug, Humira. Other key products include Imbruvica (cancer) and Viekira Pak (hepatitis C virus (HCV) treatment).
Humira, the company’s flagship product which is approved for a wide range of indications, is a major contributor to AbbVie’s top line. While Humira will remain the key growth driver at AbbVie, the coming quarters will see investor focus remaining primarily on Viekira’s performance as well as pipeline updates.
Meanwhile, the Pharmacyclics acquisition has diversified AbbVie’s product portfolio with the addition of Imbruvica.
ABBV has a pretty good earnings track record with the company delivering positive earnings surprises in three of the last four quarters with an average surprise of 2.55%.
Currently, ABBV has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: ABBV's second quarter earnings came in at $1.26 per share, beating the Zacks Consensus Estimate of $1.20.
Revenues: AbbVie posted revenues of approximately $6.43 billion, surpassing the Zacks Consensus Estimate of $6.24 billion.
Key Stats: Humira sales came in at $4.1 billion. Second-quarter Imbruvica sales were $439 million. Viekira sales were $419 million in the second quarter.
Ups 2016 Outlook: AbbVie raised its 2016 EPS outlook to $4.73 - $4.83 (old guidance: $4.62 - $4.82 per share). The Zacks Consensus Estimate is currently $4.76 per share.
Check back later for our full write up on this ABBV earnings report.
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AbbVie (ABBV) Tops 2Q Earnings & Revenue Estimates
North Chicago, IL-based AbbVie Inc. (ABBV - Free Report) is best known for its autoimmune disease drug, Humira. Other key products include Imbruvica (cancer) and Viekira Pak (hepatitis C virus (HCV) treatment).
Humira, the company’s flagship product which is approved for a wide range of indications, is a major contributor to AbbVie’s top line. While Humira will remain the key growth driver at AbbVie, the coming quarters will see investor focus remaining primarily on Viekira’s performance as well as pipeline updates.
Meanwhile, the Pharmacyclics acquisition has diversified AbbVie’s product portfolio with the addition of Imbruvica.
ABBV has a pretty good earnings track record with the company delivering positive earnings surprises in three of the last four quarters with an average surprise of 2.55%.
Currently, ABBV has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: ABBV's second quarter earnings came in at $1.26 per share, beating the Zacks Consensus Estimate of $1.20.
Revenues: AbbVie posted revenues of approximately $6.43 billion, surpassing the Zacks Consensus Estimate of $6.24 billion.
Key Stats: Humira sales came in at $4.1 billion. Second-quarter Imbruvica sales were $439 million. Viekira sales were $419 million in the second quarter.
Ups 2016 Outlook: AbbVie raised its 2016 EPS outlook to $4.73 - $4.83 (old guidance: $4.62 - $4.82 per share). The Zacks Consensus Estimate is currently $4.76 per share.
ABBVIE INC Price
ABBVIE INC Price | ABBVIE INC Quote
Check back later for our full write up on this ABBV earnings report.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>