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AbbVie reports Q2 growth and EPS lift despite Apogee deal hit
AbbVie posted Q2 revenue of $16.99 billion, up more than 10% year-over-year, and raised adjusted EPS to $3.65, up nearly 23%.
AbbVie reported strong Q2 results, including revenue of $16.99 billion, up more than 10% year-over-year, and adjusted earnings per share of $3.65, up nearly 23%, according to MarketBeat Ratings.
The quarter showed growth across multiple portfolios, with Immunology and Neurosciences rising 15.1% and 20.3%, respectively. Blockbusters Skyrizi and Rinvoq each grew by 24%, combining for $7.575 billion in revenue, or about 44.5% of net revenue.
AbbVie shares pulled back soon after the earnings release, but the decline was attributed to a planned acquisition that the article says will dilute earnings potential in the near term. The acquisition centers on Apogee Therapeutics, intended to expand AbbVie’s Immunology portfolio with late-stage candidates.
MarketBeat Ratings also highlighted margin strength, saying AbbVie controlled costs, benefited from improved leverage, and drove margin improvement. The article adds that guidance was affected mainly by a slightly lower adjusted earnings range, with the acquisition noted as the sticking point.