Levi Strauss & Co. (NYSE: LEVI) has released its financial results for the second quarter of 2023. The company reported earnings per share (EPS) of $0.04, slightly exceeding the consensus estimate of $0.03. However, net revenues for the quarter were $1.337 billion, slightly lower than the consensus estimate of $1.34 billion.

In light of the second-quarter performance, Levi Strauss has revised its full-year fiscal 2023 outlook. The company now expects adjusted diluted EPS to be in the range of $1.10 to $1.20, down from the previous range of $1.30 to $1.40, and also below the consensus estimate of $1.29 for the period.

$LEVI is trading at $13.48 in after-hours, representing a decrease of $0.77 or 5.40%.

In other news, AbbVie Inc. (NYSE: ABBV) has disclosed in a regulatory filing with the SEC that its reported GAAP earnings and adjusted non-GAAP earnings for the second quarter of 2023 are expected to include acquired IPR&D and milestones expense of $280 million on a pre-tax basis. This expense will have an unfavorable impact of $0.15 on both GAAP diluted earnings per share and adjusted non-GAAP diluted earnings per share.

AbbVie has also provided guidance reflecting the impact of the second quarter 2023 acquired IPR&D and milestones expense. The company now expects its full-year 2023 adjusted diluted earnings per share (EPS) to range from $10.57 to $10.97, compared to the consensus estimate of $10.08 for FY23. Additionally, AbbVie projects its second quarter 2023 adjusted diluted EPS to range between $2.75 and $2.85, compared to the consensus estimate of $2.69 for Q2.

In after-hours, $ABBV was trading at $137.00, down $0.25 (-0.18%)

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