ABBV Reports Strong Q3 2025 Revenue and Raises Full-Year EPS Outlook

AbbVie (ABBV.US) announced robust financial results for the third quarter ended September 30, 2025. The company reported net revenues of $15.776 billion, marking a 9.1% increase on a reported basis compared to the prior year. Adjusted diluted EPS for the quarter was $1.86, which includes an unfavorable impact of $1.50 per share related to acquired IPR&D and milestones expense. While the reported adjusted diluted EPS of $1.86 was above the analyst estimate of $1.77, it represents a 38.0% decrease year-over-year.

Key Business Drivers

The Immunology portfolio was a significant contributor to AbbVie's performance, generating $7.885 billion in net revenues, an 11.9% increase on a reported basis. This growth was primarily driven by strong performances from Skyrizi and Rinvoq, with Skyrizi net revenues rising 46.8% to $4.708 billion and Rinvoq net revenues increasing 35.3% to $2.184 billion. Conversely, Humira net revenues decreased by 55.4% to $993 million.

The Neuroscience portfolio also demonstrated strong growth, with net revenues of $2.841 billion, up 20.2% on a reported basis. Key products in this segment, such as Botox Therapeutic, saw a 16.1% increase to $985 million, while Ubrelvy and Qulipta combined generated $642 million, with Qulipta showing a notable 64.1% increase. The Oncology portfolio experienced a slight decrease of 0.3% in net revenues, reaching $1.682 billion, mainly due to a 14.8% decline in Imbruvica net revenues to $706 million.

Management Outlook and Strategic Investments

AbbVie is raising its adjusted diluted EPS guidance for the full year 2025, from a previous range of $10.38 - $10.58 to a new range of $10.61 - $10.65. This updated guidance includes an unfavorable impact of $2.05 per share related to acquired IPR&D and milestones expense incurred year-to-date through the third quarter of 2025.

The company also announced a 5.5% increase in its quarterly cash dividend, raising it from $1.64 per share to $1.73 per share, beginning with the dividend payable in February 2026. Furthermore, AbbVie is making significant capital investments in the U.S., with a new $195 million API facility in North Chicago and a $70 million expansion at its AbbVie Bioresearch Center in Worcester, Massachusetts, aimed at boosting manufacturing capabilities for immunology, oncology, and neuroscience medicines.