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AbbVie (ABBV) Beats on 2Q Earnings, Revenues, Ups View

AbbVie Inc. ABBV reported second quarter 2016 earnings of $1.26 per share, up 16.7% from the year-ago quarter and surpassing the Zacks Consensus Estimate of $1.20 per share

Revenues increased 17.5% to $6.43 billion in the second quarter of 2016, beating the Zacks Consensus Estimate of $6.24 billion.

The Quarter in Details

Key drug Humira recorded growth of 17.4% with revenues coming in at $4.1 billion. U.S. sales increased 26.7% ($2.7 billion) driven by growth across all three major market categories: rheumatology, dermatology and gastroenterology. Ex-U.S. sales grew 3% to $1.4 billion. Growing awareness, favorable clinical data, additional indications and expansion into new markets should help the product to continue contributing significantly to the top line.

Other products that performed well...