AbbVie beats Street 2Q forecasts

NORTH CHICAGO, Ill. (AP) - AbbVie Inc. (ABBV) on Friday reported second-quarter profit of $1.61 billion.

On a per-share basis, the North Chicago, Illinois-based company said it had net income of 98 cents. Earnings, adjusted for costs related to mergers and acquisitions and amortization costs, were $1.26 per share.

The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.20 per share.

The drugmaker posted revenue of $6.45 billion in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $6.24 billion.

AbbVie expects full-year earnings in the range of $4.73 to $4.83 per share.

AbbVie shares have climbed slightly more than 9 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 6 percent. The stock has dropped 9 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ABBV at http://www.zacks.com/ap/ABBV

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Keywords: AbbVie, Earnings Report