AbbVie's Q2 Earnings Beat Estimates, Raises Annual Profit On Strong Sales From Newer Immunology And Cancer Drugs
Portfolio Pulse from Vandana Singh
AbbVie Inc. (NYSE:ABBV) reported strong Q2 earnings, beating estimates with adjusted EPS of $2.65 and net revenues of $14.46 billion. The company raised its annual profit guidance due to strong sales from newer immunology and cancer drugs. Despite a decline in Humira revenues, Skyrizi and Rinvoq showed significant growth. Neuroscience and oncology portfolios also performed well. However, the stock is down 5.14% following the announcement.
July 25, 2024 | 2:18 pm
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AbbVie reported strong Q2 earnings, beating estimates with adjusted EPS of $2.65 and net revenues of $14.46 billion. The company raised its annual profit guidance due to strong sales from newer immunology and cancer drugs. Despite positive results, the stock is down 5.14%.
AbbVie’s strong Q2 earnings and raised annual profit guidance indicate positive financial health and growth potential. However, the stock is down 5.14%, likely due to market reactions to the discontinuation of the Alzheimer's drug and other factors. The overall impact is positive in the short term due to strong sales performance and raised guidance.
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