NORTH CHICAGO, Ill. (AP) — NORTH CHICAGO, Ill. (AP) — AbbVie Inc. (ABBV) on Friday reported second-quarter profit of $3.61 billion.
On a per-share basis, the North Chicago, Illinois-based company said it had profit of $2.03. Earnings, adjusted for non-recurring costs and amortization costs, were $3.65 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $3.64 per share.
The drugmaker posted revenue of $16.99 billion in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $16.81 billion.
AbbVie expects full-year earnings in the range of $13.87 to $14.07 per share.
AbbVie shares have risen 13% since the beginning of the year, while the S&P’s 500 index has increased nearly 9%. The stock has increased 36% in the last 12 months.
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