Why AbbVie Stock Is Jumping Today
Shares of AbbVie (NYSE: ABBV) were jumping 5.5% higher as of 11:24 a.m. ET on Thursday. The nice gain came after the big drugmaker reported its second-quarter results before the market opened.
AbbVie announced Q2 net revenue of nearly $13.9 billion. Although this figure reflected a 4.9% year-over-year decline, it was well above Wall Street's consensus estimate of $13.5 billion.
The company reported earnings per share (EPS) of $1.14 based on generally accepted accounting principles (GAAP). AbbVie's non-GAAP (adjusted) EPS in Q2 was $2.91. This result was 13.6% lower than adjusted EPS in the prior-year period but nonetheless beat the average analysts' estimate of $2.81.
Source Fool.com
