AbbVie Q1 Revenues Top $15B, Raises Full-Year EPS Outlook to $14.08–$14.28
AbbVie reported Q1 adjusted EPS of $2.65, a 7.7% year-over-year increase, and net revenues of $15 billion, surpassing forecasts. It raised its full-year adjusted EPS guidance to $14.08–$14.28 per share, driven by 30.9% Skyrizi growth and 23.3% Rinvoq gains offsetting a 38.6% Humira decline.
1. Q1 Financial Results
AbbVie delivered first-quarter adjusted diluted EPS of $2.65, up 7.7% from a year earlier, while GAAP diluted EPS fell 45.8% to $0.39. Net revenues reached $15 billion, marking a 12.4% increase and exceeding the $14.72 billion consensus.
2. Immunology Drugs Drive Growth
The immunology portfolio generated $7.29 billion in sales, a 16.4% rise, led by Skyrizi at $4.48 billion (up 30.9%) and Rinvoq at $2.12 billion (up 23.3%). Humira revenues declined 38.6% to $688 million as biosimilar competition intensified.
3. Other Segment Performance
Neuroscience revenues climbed 26% to $2.88 billion, with Botox Therapeutic at $1.009 billion and Vraylar at $905 million. The aesthetics portfolio grew 7.6% to $1.19 billion, led by a 20.2% jump in Botox Cosmetic to $668 million, while oncology revenues held flat at $1.63 billion.
4. Guidance Revision and Investor Reaction
AbbVie raised its full-year adjusted EPS guidance to $14.08–$14.28 per share, up from $13.96–$14.16, despite absorbing a $0.41 per share headwind from in-process R&D and milestone expenses. Shares gained roughly 2–3% in premarket trading following the update.