AbbVie Q2 Earnings Beat Estimates but FY14 Guidance Shocks
AbbVie reported Q2 adjusted EPS of $3.65, beating estimates, but issued a full-year adjusted EPS outlook of just $0.14 versus a $14.1 consensus.
AbbVie posted second-quarter results that topped Wall Street expectations on both the top and bottom lines. Revenue came in at $16,990 million, above the IBES estimate of $16,765 million, while adjusted earnings per share reached $3.65, surpassing the $3.60 consensus.
Skyrizi led growth with global revenue of $5,505 million, followed by Rinvoq at $2,525 million. Legacy blockbuster Humira generated $756 million in the quarter.
However, the company’s full-year adjusted EPS guidance stunned the market. AbbVie issued an outlook of $0.14, dramatically below the IBES estimate of $14.1, overshadowing the quarterly beat.
Source: First Squawk