AbbVie reported fourth-quarter net revenues of $16.62 billion, representing a 10 percent increase on a reported basis and a 9.5 percent rise on an operational basis versus the prior year. Adjusted earnings per share climbed 25.5 percent to $2.71, surpassing analyst estimates of $2.65. The outperformance was driven by strength in core franchises and effective cost management, resulting in an adjusted operating margin of 38.3 percent, up from 35.9 percent a year earlier.

Global immunology revenues reached $8.63 billion, up 18.3 percent year-over-year. Skyrizi sales surged 32.5 percent to $5.01 billion, while Rinvoq grew 29.5 percent to $2.37 billion. These gains offset a 25.9 percent decline in Humira revenues, which fell to $1.25 billion as biosimilar competition intensified following loss of exclusivity. Immunology now accounts for more than half of AbbVie’s total revenues, underscoring the successful transition to next-generation therapies.

The neuroscience portfolio delivered $2.96 billion in revenues, a 17.9 percent increase driven by Vraylar’s 10.5 percent rise to $1.02 billion and Botox Therapeutics’ 13.4 percent gain to $991 million. In oncology, total sales dipped 1.5 percent to $1.66 billion. Imbruvica revenues declined 20.8 percent to $671 million, while Venclexta posted an 8.6 percent increase to $711 million. AbbVie noted that continued pipeline launches and label expansions are expected to bolster these segments over the medium term.

Evercore ISI maintained its Outperform rating and set a price target of $228, citing better-than-expected immunology dynamics and disciplined portfolio management. AbbVie issued full-year 2026 adjusted EPS guidance of $14.37 to $14.57, above consensus of $14.24. Management highlighted ongoing investments in R&D and strategic collaborations, projecting a high single-digit revenue compound annual growth rate through 2030 as newer assets and potential acquisitions support long-term value creation.