AbbVie Inc. (NYSE:ABBV) reported third-quarter 2025 sales of $15.78 billion on Friday, beating the consensus of $15.59 billion.
Sales increased 9.1% on a reported basis or 8.4% on an operational basis. The company reported adjusted earnings of $1.86 per share, down 38%, beating the consensus of $1.79.
Dividend: AbbVie increased its quarterly dividend from $1.64 per share to $1.73.
“AbbVie continues to deliver outstanding results, with significant momentum across key areas of our portfolio. We are also making great progress advancing our pipeline and investing in innovation to support AbbVie’s long-term growth,” said Robert Michael, chairman and CEO, AbbVie. “Based upon the strength of our business and its promising outlook, we are once again raising our quarterly cash dividend.”
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Global net revenues from the immunology portfolio were $7.89 billion, up 11.9% (+11.2% on an operational basis), including-Skyrizi sales increased 46.8% (+46%) to $4.71 billion; Rinvoq sales reached $2.18 billion, an increase of 35.3% (+34.1%); and Humira sales fell 55.4% (-55.7%) to $993 million.
Oncology portfolio generated sales of $1.68 billion, down 0.03% (-1.3%), including- Imbruvica's net revenues were $706 million, down 14.8%; Venclexta's revenues were $726 million, up 7.1% (+4.9%); and Elahere's revenues were $170 million.
Neuroscience portfolio sales were $2.84 billion, up 20.2% (+19.6%). Vraylar net revenues were $934 million, up 6.7%; and Botox Therapeutics' net revenues were $985 million, up 16.1% (+15.8%).
Guidance: AbbVie raised its fiscal 2025 adjusted earnings from $10.38-$10.58 per share to $10.61-$10.65 per share versus the consensus of $10.53.
The 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.
Analyst Take
William Blair writes, AbbVie's key I&I franchises continue to beat expectations and drive upside for the company's total revenue growth.
Over the mid- to long term, analyst Matt Phipps sees meaningful growth drivers in the company's Parkinson's disease franchise (Vyalev and tavapadon) and strong potential from the company's late-stage ADC portfolio.
Shares currently trade at only 15.8 times 2026 consensus EPS, which does not fully reflect the company’s growth profile. William Blair reiterates its Outperform rating.
Price Action: ABBV stock is trading lower by 3.70% to $219.76 at last check on Friday.
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