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AbbVie reports Q2 EPS up 40.8% YOY, raises guidance

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AbbVie reports Q2 EPS up 40.8% YOY, raises guidance

AbbVie Inc. said its second-quarter non-GAAP adjusted EPS rose 40.8% year over year, and it raised full-year guidance.

Non-GAAP earnings totaled $3.17 billion, or $2.00 per share, compared to $2.29 billion, or $1.42 per share, in the same period a year ago.

The S&P Capital IQ consensus normalized EPS estimate for the second quarter is $1.97.

The North Chicago, Ill.-based pharmaceuticals giant said second-quarter GAAP revenues increased to $8.28 billion from $6.94 billion in the second quarter of 2017.

Global Humira sales increased by 10% to $5.19 billion for the quarter.

GAAP earnings rose to $1.98 billion, or $1.26 per share, from $ 1.92 billion, or $1.19 per share, in the prior-year period.

Guidance

The company revised its non-GAAP adjusted EPS guidance to be in the range of $7.76 to $7.86 from $7.66 to $7.76 announced previously.

The S&P Capital IQ normalized EPS consensus estimate for the full year is $7.77.

GAAP EPS is expected to be between $6.47 and $6.57 as opposed to $6.82 to $6.92 announced with the first-quarter results.