What To Expect From AbbVie’s (ABBV) Q2 Earnings

Pharmaceutical company AbbVie (NYSE:ABBV) will be announcing earnings results this Friday before market hours. Here’s what to look for.

AbbVie beat analysts’ revenue expectations last quarter, reporting revenues of $15 billion, up 12.4% year on year. It was a mixed quarter for the company, with a miss of analysts’ EPS estimates.

Is AbbVie a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, the market is expecting AbbVie’s revenue to grow 8.8% year on year, improving from the 6.6% increase it recorded in the same quarter last year.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. AbbVie has a history of exceeding Wall Street’s expectations.

Looking at AbbVie’s peers in the biotechnology segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Biogen delivered year-on-year revenue growth of 3.4%, beating analysts’ expectations by 12.1%, and Incyte reported revenues up 37.7%, topping estimates by 11.3%. Incyte traded up 6.9% following the results.

Read our full analysis of Biogen’s results here and Incyte’s results here.

There has been positive sentiment among investors in the biotechnology segment, with share prices up 4.9% on average over the last month. AbbVie is up 4.6% during the same time and is heading into earnings with an average analyst price target of $268.68 (compared to the current share price of $263.30).

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