We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
AbbVie (ABBV) Beats Q2 Earnings and Revenues, Shares Up
Read MoreHide Full Article
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 Mavyret (hepatitis C virus (HCV) treatment).
Performance of other drugs, namely Duodopa and Creon, are also encouraging. Leukemia drug, Venclexta, has also shown rapid growth
Humira, is a major contributor to AbbVie’s top line. While Humira will remain the key growth driver at AbbVie, Imbruvica and Mavyret are fast becoming important revenue generators.
AbbVie’s performance has been mixed, with the pharmaceuticals company delivering positive surprises in three of the past four quarter and missing estimates in one. The average earnings beat over the last four quarters is 2.58%.
Currently, AbbVie has a Zacks Rank #2 (Buy), 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 $2.26 per share, beating the Zacks Consensus Estimate of $2.21.
Revenues: AbbVie posted revenues of $8.26 billion, which also beats the Zacks Consensus Estimate of $8.1 billion.
Key Stats: Humira sales came in at $4.9 billion, a decline of 4.8% year over year excluding currency impact. While U.S. sales increased 7.7%, sales in international markets declined 35.2% due to biosimilar impact in international market. Second-quarter Imbruvica net revenues were $1.1 billion, up 29.3% year over year. However, HCV sales declined 17.1% year-over year to $784 million.
2019 Outlook: AbbVie raised its outlook for 2019. The company expects its adjusted EPS in the range of $8.82 to $8.92 (previously $8.73 to $8.83). The Zacks Consensus Estimate is currently pegged at $8.82 per share.
Share Price Impact: Shares fell more than 2% in pre-market trading.
Check back later for our full write up on this AbbVie earnings report.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 7 stocks to watch. The report is only available for a limited time.
Image: Bigstock
AbbVie (ABBV) Beats Q2 Earnings and Revenues, Shares 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 Mavyret (hepatitis C virus (HCV) treatment).
Performance of other drugs, namely Duodopa and Creon, are also encouraging. Leukemia drug, Venclexta, has also shown rapid growth
Humira, is a major contributor to AbbVie’s top line. While Humira will remain the key growth driver at AbbVie, Imbruvica and Mavyret are fast becoming important revenue generators.
AbbVie’s performance has been mixed, with the pharmaceuticals company delivering positive surprises in three of the past four quarter and missing estimates in one. The average earnings beat over the last four quarters is 2.58%.
Currently, AbbVie has a Zacks Rank #2 (Buy), 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 $2.26 per share, beating the Zacks Consensus Estimate of $2.21.
Revenues: AbbVie posted revenues of $8.26 billion, which also beats the Zacks Consensus Estimate of $8.1 billion.
Key Stats: Humira sales came in at $4.9 billion, a decline of 4.8% year over year excluding currency impact. While U.S. sales increased 7.7%, sales in international markets declined 35.2% due to biosimilar impact in international market. Second-quarter Imbruvica net revenues were $1.1 billion, up 29.3% year over year. However, HCV sales declined 17.1% year-over year to $784 million.
2019 Outlook: AbbVie raised its outlook for 2019. The company expects its adjusted EPS in the range of $8.82 to $8.92 (previously $8.73 to $8.83). The Zacks Consensus Estimate is currently pegged at $8.82 per share.
Share Price Impact: Shares fell more than 2% in pre-market trading.
Check back later for our full write up on this AbbVie earnings report.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 7 stocks to watch. The report is only available for a limited time.
See 7 breakthrough stocks now>>