AbbVie Shares Surge 2% On Q2 Profit, Revenue Beats

AbbVie Inc. shares surged 2% in premarket trade Friday after the company reported second-quarter profit and revenue beats. Earnings for the latest quarter rose to $1.92 billion, or $1.19 per share, from $1.61 billion, or 98 cents per share in the year-earlier period. Adjusted earnings-per-share were $1.42, compared with the FactSet consensus of $1.40. Revenue rose to $6.94 billion from $6.45 billion, compared with the FactSet consensus of $6.93 billion. Revenue for anti-inflammatory Humira came in at $4.72 billion, above the FactSet consensus of $4.64 billion. Revenue for cancer drug Imbruvica came to $626 million, above the FactSet consensus of $608 million. Revenue for the Hepatitis C therapy Viekira came in at $225 million, below the FactSet consensus of $251 million. Revenue for the therapy Lupron, which is used to delay the onset of puberty, came in above the FactSet consensus, and revenue for digestive drug Creon came in just below the FactSet consensus. The company also confirmed its 2017 EPS and adjusted EPS guidance. AbbVie shares have surged 8.8% over the last three months, compared with a 3.8% rise in the S&P 500 .