AbbVie beats estimates despite posting 2nd-qtr loss

31 July 2020

Despite gaining 1.9% pre-market, AbbVie (NYSE: ABBV) shares were down 2% at $94.14 mid-morning after it announced financial results for the second quarter ended June 30, 2020.

Worldwide net revenues were $10.425 billion, an increase of 26.3% on a reported basis, or a decrease of 5.3% on a comparable operational basis, due to the COVID-19 pandemic.

AbbVie reported a loss of $739 million, or $0.46 earnings per share on a generally accepted accounting principles (GAAP) basis. Adjusted diluted EPS, excluding specified items, was $2.34.

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