An earlier version of this report incorrectly cited AbbVie’s updated EPS guidance for 2021. It has been corrected.
AbbVie Inc. ABBV, +0.27% beat expectations for the second quarter of 2021, driven largely by gains in its immunology business. The drug maker had earnings of $766 million, or 42 cents per share, in the second quarter of 2021. It had a loss of $738 million, or 46 cents per share, in the same quarter a year ago. Adjusted earnings per share were $3.11, against a FactSet consensus of $3.08. AbbVie said its revenue jumped to $13.9 billion for the quarter, up from $10.4 billion in the same period a year ago. The FactSet consensus was $13.6 billion. The company said sales of several marquee drugs increased in the second quarter, including arthritis therapy Humira to $5.0 billion and Botox Cosmetic, which the drug maker gained as part of its acquisition of Allergan, to $584 million. The company updated its guidance for the year, saying it now expects EPS of $6.04 to $6.14, compared with past guidance of $7.27 to $7.47. It also updated guidance for adjusted EPS and now expects a range of $12.52 to $12.62, compared with previous guidance of $12.37 to $12.57. AbbVie’s stock is up 10.4% so far this year, while the broader S&P 500 SPX, +0.42% is up 17.6%.
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