AbbVie: Q2 Earnings Snapshot

July 29, 2022 GMT

NORTH CHICAGO, Ill. (AP) _ AbbVie Inc. (ABBV) on Friday reported second-quarter net income of $924 million.

The North Chicago, Illinois-based company said it had net income of 51 cents per share. Earnings, adjusted for non-recurring costs and amortization costs, came to $3.37 per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $3.31 per share.

The drugmaker posted revenue of $14.58 billion in the period, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $14.65 billion.

AbbVie expects full-year earnings in the range of $13.78 to $13.98 per share.

AbbVie shares have increased 11% since the beginning of the year, while the S&P’s 500 index has fallen 15%. The stock has climbed 26% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ABBV at https://www.zacks.com/ap/ABBV