AbbVie Q2 Profit Increases, beats estimates

(RTTNews) - AbbVie (ABBV) released a profit for its second quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $2.02 billion, or $1.14 per share. This compares with $0.92 billion, or $0.51 per share, in last year's second quarter.

Excluding items, AbbVie reported adjusted earnings of $5.18 billion or $2.91 per share for the period.

Analysts on average had expected the company to earn $2.80 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 4.9% to $13.87 billion from $14.58 billion last year.

AbbVie earnings at a glance (GAAP) :

-Earnings (Q2): $2.02 Bln. vs. $0.92 Bln. last year. -EPS (Q2): $1.14 vs. $0.51 last year. -Analyst Estimate: $2.80 -Revenue (Q2): $13.87 Bln vs. $14.58 Bln last year.

-Guidance: Full year EPS guidance: $10.90 - $11.10