AbbVie cites growth of immunology business in the second quarter

An earlier variation of this report improperly cited AbbVie’s up-to-date EPS advice for 2021. It has been corrected.

AbbVie Inc.
ABBV,
+.27%
defeat anticipations for the next quarter of 2021, pushed mostly by gains in its immunology company. The drug maker had earnings of $766 million, or 42 cents for every share, in the 2nd quarter of 2021. It had a loss of $738 million, or 46 cents per share, in the similar quarter a 12 months back. Altered earnings per share have been $3.11, from a FactSet consensus of $3.08. AbbVie explained its profits jumped to $13.9 billion for the quarter, up from $10.4 billion in the very same interval a year ago. The FactSet consensus was $13.6 billion. The organization mentioned income of numerous marquee medication elevated in the next quarter, together with arthritis remedy Humira to $5. billion and Botox Beauty, which the drug maker acquired as portion of its acquisition of Allergan, to $584 million. The company current its steerage for the calendar year, expressing it now expects EPS of $6.04 to $6.14, in comparison with previous advice of $7.27 to $7.47. It also updated guidance for adjusted EPS and now expects a array of $12.52 to $12.62, as opposed with previous direction of $12.37 to $12.57. AbbVie’s stock is up 10.4% so considerably this year, although the broader S&P 500
SPX,
+.42%
is up 17.6%.

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