Categories AlphaGraphs, Earnings, Health Care
AbbVie (ABBV) Q2 2020 results beat estimates; updates FY20 outlook
AbbVie (NYSE: ABBV), which completed the acquisition of Allergan on May 8, 2020, reported second quarter 2020 earnings results today. The company’s adjusted earnings and revenue in Q2 bettered the market’s estimates. which included a partial quarter of Allergan and COVID-19 pandemic impact.
ABBV stock was trading up about 2% in the before market hours.
On an adjusted basis, earnings increased to $2.34 per share from $2.26 per share in the year-ago quarter. On a GAAP basis, AbbVie posted a loss of $0.46 per share compared to a profit of $0.49 per share in the second quarter of 2019.
Revenues of $10.425 billion, increased 26.3% on a reported basis, and decreased 5.3% on a comparable operational basis, due to the COVID-19 pandemic.
Also read: Strong performance of oncology products bode well for AbbVie (ABBV) going forward
AbbVie provided combined company earnings outlook for fiscal 2020, which includes the results of Allergan from May 8, 2020 through December 31, 2020. The company now expects GAAP EPS to be in the range of $4.12 to $4.22. On a non-GAAP basis, profit is now expected to be in the range of $10.35 to $10.45 per share.
Most Popular
What to look for when CVS Health (CVS) reports Q3 earnings
Healthcare company CVS Health Corporation (NYSE: CVS) is all set to report earnings next week, with Wall Street expecting a mixed outcome. The company has been facing challenges in certain
eBay (EBAY): A few factors that helped drive growth in Q3 2024
Shares of eBay Inc. (NASDAQ: EBAY) stayed green on Friday. The stock has gained 32% year-to-date. The ecommerce leader delivered revenue and earnings growth for the third quarter of 2024,
CVX Earnings: Chevron reports lower revenue and profit for Q3 2024
Energy exploration company Chevron Corporation (NYSE: CVX) on Friday announced third-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation dropped to
Comments