AbbVie Inc. Reports Strong Q2 Earnings Driven by Immunology and Cancer Drug Sales
Thursday, 25 July 2024, 14:18
AbbVie Inc. Q2 Earnings Analysis
On Thursday, AbbVie Inc. (NYSE:ABBV) announced its second-quarter earnings that highlighted a mix of performance metrics.
Earnings Performance
- Adjusted EPS reached $2.65, down 8.9% year over year but beating estimates of $2.57.
- Net revenues increased by 4.3% to $14.46 billion, also surpassing market expectations of $14.03 billion.
Sales Breakdown
- The immunology portfolio contributed $6.97 billion in sales, marking a 2.3% increase on a reported basis.
- Operational sales increased by 3.5%.
- Humira revenues were reported at $2.81 billion.
Future Outlook
In light of the strong performance from its newer immunology and cancer drugs, AbbVie has raised its annual profit forecast for the upcoming periods.
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