AbbVie (ABBV) Stock Loses 2% But Reports Solid Second Quarter Earnings Results: How Solid Is It?

Yesterday, AbbVie’s stock closed at $118.83. Nevertheless, today it is sinking a little: the stock is currently at $116.5, resulting in a 2% loss. However, there is good news to celebrate: the company published results from Second Quarter Earnings. Worldwide net revenues were $13.959 billion, an increase of 33.9% on a reported basis, or 19.3% on a comparable operational basis. Global net revenues from the immunology portfolio were $6.120 billion, an increase of 15.1% on a reported basis, or 13.8% on an operational basis.
Global Humira net revenues of $5.068 billion increased 4.8% on a reported basis, or 3.6% on an operational basis. U.S. Humira net revenues were $4.257 billion, an increase of 7.1%. Internationally, Humira’s net revenues were $811 million, a decrease of 6.0% on a reported basis, or 12.6% on an operational basis, due to biosimilar competition. Global Skyrizi net revenues were $674 million. Global Rinvoq net revenues were $378 million. Global net revenues from the hematologic oncology portfolio were $1.816 billion, an increase of 14.1% on a reported basis, or 13.2% on an operational basis.

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Global Imbruvica net revenues were $1.381 billion, an increase of 7.2%, with U.S. net revenues of $1.099 billion and international profit sharing of $282 million. Global Venclexta net revenues were $435 million, an increase of 43.2% on a reported basis, or 38.3% on an operational basis. Global net revenues from the neuroscience portfolio were $1.459 billion, an increase of 98.8% on a reported basis, or 29.6% on a comparable operational basis.

Richard McEntire

Finance and Entertainment ReporterRichard is a bottle of wine - the older the sweeter. He has already found the sweetest hobby in writing entertainment and finance news for Own Snap. Readers get the updated posts regularly from him searching for real-time news.


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