AbbVie Inc (ABBV) released its second quarter results on Sunday, August 1, 2021. The company reported net earnings of $0.43 per share for the second quarter ending June 30, 2021. Earnings for this past quarter were up 194 percent compared to the same period a year ago.
The company was incorporated in 2012 and is based in North Chicago, Illinois. AbbVie Inc. discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behcet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenstrom's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
AbbVie's revenue increased 48 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins increased to 82.09% for the second quarter compared to the same period in the previous year, and operating margins increased to 34.24% over the same period. Net earnings for past trailing twelve months were $6606.0 million, down 4% from the prior year.
Moving on to the balance sheet, AbbVie's cash levels dropped 76% for the second quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, decreased 73.54% this past year. The current ratio for AbbVie now stands at 0.83. The company increased shares outstanding by 19.57%.
Shares of ABBV are currently trading around $116.30. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 31.24 and price to book ratio of 15.07.
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This article was written by Value Investing News (https://www.valueinvestingnews.com) on Monday, August 2, 2021.