Categories AlphaGraphs, Earnings, Health Care
AbbVie Q2 2024 adj. profit drops despite higher revenues; results beat
Specialty biopharmaceutical company AbbVie, Inc. (NYSE: ABBV) Thursday announced second-quarter 2024 financial results, reporting a decline in adjusted earnings and an increase in revenues. The numbers exceeded estimates.
The company reported worldwide net revenues of $14.46 billion for the June quarter, up 4.3% from the corresponding period of 2023 and above the market’s projection. All operating segments, except the Eye Care division, registered growth.
Net income, adjusted for special items, declined to $2.65 per share in Q2 from $2.91 per share in the year-ago quarter, but topped expectations. On a reported basis, second-quarter profit was $1.37 billion or $0.77 per share, compared to $2.02 billion or $1.14 per share last year.
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