AbbVie's Q2 Earnings Preview: New Medications Drive Growth

AbbVie Inc, based in North Chicago, is set to announce its Q2 earnings, expected to be $3.24 per share, up 22.3% from last year. Analysts predict full-year EPS to be $12.28, with stock outperforming the S&P 500 and Health Care Select Sector SPDR Fund.

AbbVie’s success is attributed to new medications like Skyrizi and Rinvoq, offsetting Humira’s exclusivity loss. Strategic acquisitions and focus on immunology, oncology, and neuroscience are driving revenue growth. Q1 results exceeded expectations, with adjusted EPS of $2.46 and revenue of $13.3 billion.

Analysts are moderately bullish on ABBV stock, with a “Moderate Buy” rating overall. The average analyst price target is $208.88, indicating a potential upside of 10.4% from current levels. All information in this article is for informational purposes only.

Read more at Yahoo Finance: Here’s What to Expect From AbbVie’s Next Earnings Report