On July 27 2023, ABBVIE INC ($NYSE:ABBV) released its financial results for the second quarter of FY2023 which concluded on June 30 2023. The company’s revenue for the quarter amounted to USD 13865.0 million, a decrease of 4.9% as compared to the same period in FY2022. In contrast, net income for the quarter was up 119.0%, amounting to USD 2024.0 million when compared to the year prior.
At the open, ABBVIE INC stocks opened at $144.5, up 4.9% from the prior closing price of $141.9. Throughout the day, the stock maintained a strong uptrend and closed at $148.8, closing the day at 4.9% higher compared to the prior closing price. This significant increase in share price shows investors’ confidence in ABBVIE INC’s performance and future prospects. The company showcased a strong financial performance in the second quarter of FY2023, prompting investors to buy and drive up the stock price.
As a result of this impressive financial performance, ABBVIE INC has become a very attractive investment option for many investors in the market. With strong growth potential and a positive performance track record, this stock is sure to be a great option for investors who are looking for long-term gains. Live Quote…
About the Company
Ownership (Institutional/ Fund Holdings)
Below shows the total revenue, net income and net margin for Abbvie Inc. More…
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Below shows the total assets, liabilities and book value per share for Abbvie Inc. More…
Balance Sheet (Yearly/ Quarterly)
Balance Sheet Supplement
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Key Ratios Snapshot
Some of the financial key ratios for Abbvie Inc are shown below. More…
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At GoodWhale, we have conducted a comprehensive analysis of ABBVIE INC‘s wellbeing. We have given ABBVIE INC a medium risk rating, based on several financial and business aspects. In terms of the balance sheet, however, there are two risk warnings which have been detected. To access our full report on ABBVIE INC, please register on GoodWhale.com for more detailed information. More…
Risk Rating Analysis
Star Chart Analysis
AbbVie Inc is a global, research-based biopharmaceutical company formed in 2013. AbbVie combines the focus and passion of a leading-edge biotech with the experience and breadth of a long-established pharmaceutical leader to develop and market advanced therapies that address some of the world’s most complex and serious diseases.
Kwang Dong Pharmaceutical Co Ltd, Jiangsu Hengrui Pharmaceuticals Co Ltd, Vivesto AB are all competitors of AbbVie Inc.
– Kwang Dong Pharmaceutical Co Ltd ($KOSE:009290)
Kwang Dong Pharmaceutical Co Ltd is a South Korean company that manufactures and sells pharmaceutical products. The company has a market cap of 233.75 billion as of 2022 and a return on equity of 19.33%. Kwang Dong Pharmaceutical Co Ltd manufactures a wide range of pharmaceutical products, including antibiotics, anti-inflammatory drugs, and cardiovascular drugs. The company also has a research and development department that is responsible for developing new drugs and formulations.
– Jiangsu Hengrui Pharmaceuticals Co Ltd ($SHSE:600276)
Jiangsu Hengrui Pharmaceutical Co., Ltd. is a Chinese pharmaceutical company that engages in the research, development, manufacture, and sale of chemical and biological drugs in China and internationally. The company has a market cap of 248.78 billion as of 2022 and a return on equity of 6.72%. Jiangsu Hengrui Pharmaceutical Co., Ltd. is headquartered in Lianyungang, China.
Vivesto AB is a Swedish company that provides financial technology solutions. The company has a market capitalization of 32.61 million as of 2022 and a return on equity of -9.39%. Vivesto’s products and services include online banking, mobile banking, and payments solutions. The company serves retail, corporate, and institutional clients.
ABBVIE Inc‘s second quarter of FY2023 ending June 30, 2023 reported a 4.9% decrease in revenue to USD 13865.0 million compared to the same period in the previous year.
However, net income for the quarter increased 119.0% to USD 2024.0 million, leading to a positive sentiment on the stock. This suggests investors are encouraged by the company’s improved performance and cost savings initiatives, despite lower revenue due to the impact of the ongoing pandemic. The stock price increased the same day as the earnings results were released, potentially reflecting investor optimism towards ABBVIE Inc’s outlook. In conclusion, ABBVIE Inc’s second quarter of FY2023 was a success, and investors should watch for further improvements going forward.