AbbVie: 2Q Earnings Snapshot
NORTH CHICAGO, Ill. (AP) _ AbbVie Inc. (ABBV) on Friday reported second-quarter net income of $741 million.
The North Chicago, Illinois-based company said it had net income of 49 cents per share. Earnings, adjusted for one-time gains and costs, came to $2.26 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.21 per share.
The drugmaker posted revenue of $8.26 billion in the period.
AbbVie expects full-year earnings in the range of $8.82 to $8.92 per share.
AbbVie shares have decreased 28% since the beginning of the year, while the Standard & Poor’s 500 index has risen 20%. The stock has fallen 28% in the last 12 months.