Loading...
Loading...
Shares of
AbbVie Inc declined more than 2 percent in pre-market trading after the company reported downbeat sales for the second quarter. However, the company's profit exceeded analysts' estimates.
The North Chicago, Illinois-based company reported a quarterly net profit of $1.37 billion, or $0.83 per share, compared to $1.1 billion, or $0.68 per share, in the year-ago quarter. Excluding non-recurring items, the company's adjusted earnings came in at $1.08 per share.
Its revenue climbed 11.1 percent to $5.48 billion, while sales an operational basis surged 19.4 percent. Analysts were expecting earnings of $1.06 per share on revenue of $5.62 billion.
The average estimate among 23 Estimize users was for earnings of $1.06 per share and revenue of $5.59 billion.
Its sales of Humira rose 7.6 percent to $3.54 billion.
Adjusted operating margin in the second quarter widened to 44.2 percent, from 36.4 percent in the year-ago quarter.
Adjusted research and development in the quarter was 15.9 percent of sales.
"We are pleased with the high level of performance we've delivered through the first-half of 2015, consistent with our commitment to shareholders for top-tier growth this year and beyond," said Richard A. Gonzalez, chairman and chief executive officer, AbbVie. "With the completion of the Pharmacyclics transaction, continued momentum from our on-market products and rapid evolution of our robust development pipeline, we are well positioned to deliver strong performance in the future."
AbbVie reaffirmed its FY15 adjusted earnings forecast of $4.10 to $4.30 per share, versus analysts' estimates of $4.24 per share.
AbbVie shares fell 2.86 percent to $68.50 in pre-market trading.
Loading...
Loading...
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in