AbbVie reported fourth-quarter net revenues of $16.62 billion, marking a 10% year-over-year increase on a reported basis (9.5% on an operational basis). Adjusted earnings per share rose 25.5% to $2.71, outperforming consensus estimates by $0.06, while operating margin expanded by 360 basis points to 38.3% on an adjusted basis. These results underscore the company’s efficient cost management and ability to convert growing sales into higher profits despite ongoing headwinds in legacy products.

The immunology segment led the quarter’s performance with global net revenues of $8.63 billion, up 18.3%. Skyrizi sales surged 32.5% to $5.01 billion and Rinvoq grew 29.5% to $2.37 billion, collectively offsetting a 25.9% decline in Humira revenues. Management highlighted that Skyrizi and Rinvoq are now expected to generate combined annual sales of $38 billion by 2030, supporting long-term growth targets and solidifying AbbVie’s leadership in immunology.

For fiscal 2026, AbbVie issued adjusted EPS guidance of $14.37 to $14.57, implying approximately 13% growth over the prior year and exceeding analyst forecasts by $0.25 per share. The guidance excludes acquired IPR&D and milestone expenses, reflecting confidence in ongoing R&D investments and anticipated contributions from recently approved indications. Investors will be watching the company’s ability to sustain margin expansion while funding its diversified pipeline across immunology, oncology and neuroscience.