AbbVie (ABBV) Tops Q2 EPS by 6c; Boosts FY16 EPS Outlook

AbbVie (NYSE: ABBV) reported Q2 EPS of $1.26, $0.06 better than the analyst estimate of $1.20. Revenue for the quarter came in at $6.43 billion versus the consensus estimate of $6.2 billion.

Highlights:

• Global HUMIRA sales increased 17.4 percent on a reported basis. Operational HUMIRA sales increased 17.7 percent, excluding a modest impact of foreign exchange. Strong global growth was driven by continued momentum across all three major market categories – rheumatology, dermatology and gastroenterology.
• Second-quarter global IMBRUVICA net revenue was $439 million, with U.S. sales of $384 million and international profit sharing of $55 million for the quarter.
• Total company revenue growth was also driven by $419 million in global VIEKIRA sales in the quarter, as well as strong operational growth from Duodopa, Creon and Lupron.

GUIDANCE:

AbbVie sees FY2016 EPS of $4.73 - $4.83, versus prior guidance of $4.62 - $4.82 and the consensus of $4.75. he company's 2016 adjusted diluted EPS guidance excludes $0.91 per share of intangible asset amortization expense, acquisition related costs and accounting impacts, the impact of the Venezuelan currency devaluation, and other specified items.

For earnings history and earnings-related data on AbbVie (ABBV) click here.

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