AbbVie reported fourth-quarter 2025 net revenues of $16.62 billion, representing a 10 percent increase on a reported basis and a 9.5 percent gain on an operational basis versus consensus estimates of $16.42 billion. Adjusted earnings per share rose 25.5 percent year-over-year to $2.71, topping the expected $2.65. The results underscore management’s ability to deliver upside surprises despite ongoing headwinds from Humira’s patent-expiration decline.

Global immunology portfolio revenues reached $8.63 billion, up 18.3 percent year-over-year. Skyrizi sales surged 32.5 percent to $5.01 billion, while Rinvoq contributed $2.37 billion, a 29.5 percent increase. Humira revenues declined 25.9 percent to $1.25 billion. The neuroscience franchise generated $2.96 billion in net revenues, up 17.9 percent, led by Vraylar at $1.02 billion (+10.5 percent) and Botox Therapeutics at $991 million (+13.4 percent).

Evercore ISI maintained its Outperform rating on AbbVie, adjusting the 12-month price target from $232 to $228. Separately, Evercore highlighted that robust Skyrizi and Rinvoq momentum should offset Humira erosion and drive 2026 profit above Wall Street estimates. Benzinga and other brokers continue to rate AbbVie as a Strong Buy, citing the company’s diversified portfolio and proven execution.

AbbVie issued full-year 2026 adjusted EPS guidance of $14.37 to $14.57, above the consensus of $14.24. Management projects a high single-digit revenue compound annual growth rate through the decade, powered by newer immunology launches. However, the oncology portfolio saw a 1.5 percent decline in Q4 to $1.66 billion and the aesthetics business remains under pressure, raising questions about AbbVie’s ability to sustain growth without continued M&A and pipeline replenishment.