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AbbVie (ABBV) Tops Q2 Earnings and Revenues, View Up
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North Chicago, IL-based AbbVie Inc. (ABBV - Free Report) is best known for its autoimmune disease drug, Humira. AbbVie’s flagship product Humira is approved for several indications like rheumatoid arthritis (moderate to severe), moderately to severely active polyarticular juvenile idiopathic arthritis, active psoriatic arthritis, active ankylosing spondylitis, Crohn’s disease (moderate to severe), ulcerative colitis (moderate to severe), axial spondyloarthritis, pediatric Crohn’s disease, chronic plaque psoriasis (moderate to severe), and hidradenitis suppurativa (moderate to severe. Other key products include Imbruvica (cancer) and Viekira Pak (hepatitis C virus (HCV) treatment).
Among new products, Mavyret (HCV) has exceeded expectations and performance of Duodopa and Creon are also encouraging.
Humira, 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 pipeline updates.
AbbVie’s performance has been impressive, with the pharmaceuticals company delivering positive surprises in all of the past four quarter. The average earnings beat over the last four quarters is 2.39%.
Currently, AbbVie 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: AbbVie's second-quarter earnings came in at $2.00 per share, beating the Zacks Consensus Estimate of $1.98.
Revenues: AbbVie posted revenues of $8.28 billion, which marginally beat the Zacks Consensus Estimate of $8.27 billion.
Key Stats: Humira sales came in at $5.2 billion, up 8.2% year over year excluding currency impact. Second-quarter Imbruvica net revenues were $850 million, up 35.6% year over year. HCV sales more than doubled year-over year to $973 million on strong sales of Mavyret.
2018 Outlook: AbbVie updated its outlook for 2018. The company raised its adjusted EPS in the range of $7.76 to $7.86 compared to $7.66 to $7.76 expected previously. The Zacks Consensus Estimate is currently pegged at $7.80 per share.
Share Price Impact: Shares rose more than 0.7% in pre-market trading.
Check back later for our full write up on this AbbVie earnings report.
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
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AbbVie (ABBV) Tops Q2 Earnings and Revenues, View Up
North Chicago, IL-based AbbVie Inc. (ABBV - Free Report) is best known for its autoimmune disease drug, Humira. AbbVie’s flagship product Humira is approved for several indications like rheumatoid arthritis (moderate to severe), moderately to severely active polyarticular juvenile idiopathic arthritis, active psoriatic arthritis, active ankylosing spondylitis, Crohn’s disease (moderate to severe), ulcerative colitis (moderate to severe), axial spondyloarthritis, pediatric Crohn’s disease, chronic plaque psoriasis (moderate to severe), and hidradenitis suppurativa (moderate to severe. Other key products include Imbruvica (cancer) and Viekira Pak (hepatitis C virus (HCV) treatment).
Among new products, Mavyret (HCV) has exceeded expectations and performance of Duodopa and Creon are also encouraging.
Humira, 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 pipeline updates.
AbbVie’s performance has been impressive, with the pharmaceuticals company delivering positive surprises in all of the past four quarter. The average earnings beat over the last four quarters is 2.39%.
Currently, AbbVie 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: AbbVie's second-quarter earnings came in at $2.00 per share, beating the Zacks Consensus Estimate of $1.98.
Revenues: AbbVie posted revenues of $8.28 billion, which marginally beat the Zacks Consensus Estimate of $8.27 billion.
Key Stats: Humira sales came in at $5.2 billion, up 8.2% year over year excluding currency impact. Second-quarter Imbruvica net revenues were $850 million, up 35.6% year over year. HCV sales more than doubled year-over year to $973 million on strong sales of Mavyret.
2018 Outlook: AbbVie updated its outlook for 2018. The company raised its adjusted EPS in the range of $7.76 to $7.86 compared to $7.66 to $7.76 expected previously. The Zacks Consensus Estimate is currently pegged at $7.80 per share.
Share Price Impact: Shares rose more than 0.7% in pre-market trading.
Check back later for our full write up on this AbbVie earnings report.
AbbVie Inc. Price and EPS Surprise
AbbVie Inc. Price and EPS Surprise | AbbVie Inc. Quote
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Click here to see the 5 stocks >>