By Allison Prang

 

AbbVie Inc. turned a second-quarter loss as Allergan acquisition-related costs hurt results.

AbbVie's loss was $738 million, or 46 cents a share. In the second quarter of 2019, AbbVie had a profit of $741 million, or 49 cents a share.

Adjusted earnings were $2.34 a share. According to FactSet, analysts were expecting $2.20 a share.

Net revenue increased 26% to $10.43 billion, including a partial quarter for Allergan. Analysts guided for $9.94 billion.

Operating costs and expenses about doubled. Acquisition-related costs hurt earnings per share by $1.08.

The company closed the deal to buy Allergan in May.

 

Write to Allison Prang at allison.prang@wsj.com

 

(END) Dow Jones Newswires

July 31, 2020 08:17 ET (12:17 GMT)

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