AbbVie reported first-quarter 2026 diluted earnings per share of 39 cents on a GAAP basis, down 45.8% from the prior period, while adjusted diluted EPS rose 7.7% to $2.65. Net revenue increased 12.4% to $15.002 billion, or 10.3% on an operational basis.
Immunology remained the largest business, with first-quarter revenue up 16.4% to $7.290 billion, or 14.3% operationally. Skyrizi led the portfolio at $4.483 billion, up 30.9%, and Rinvoq climbed 23.3% to $2.119 billion. Humira fell 38.6% to $688 million.
Neuroscience revenue grew 26.0% to $2.875 billion, or 24.3% operationally. Vraylar increased 18.4% to $905 million, Botox Therapeutic rose 16.5% to $1.009 billion, Ubrelvy jumped 41.4% to $339 million, and Qulipta advanced 53.6% to $296 million. Vyalev contributed $201 million.
Oncology revenue slipped 0.2% to $1.631 billion, or 3.0% lower on an operational basis. Venclexta increased 15.7% to $770 million, Elahere rose 10.7% to $198 million, and Imbruvica declined 24.7% to $556 million.
Aesthetics revenue increased 7.6% to $1.186 billion, or 5.1% operationally. Botox Cosmetic rose 20.2% to $668 million, while Juvederm was essentially flat at $232 million, up 0.4% reported but down 2.9% operationally.
AbbVie’s operating margin was 26.6% on a GAAP basis and 40.8% adjusted. Gross margin was 71.9% GAAP and 83.6% adjusted. SG&A was 23.9% of revenue on a GAAP basis versus 22.7% adjusted, and R&D was 16.5% GAAP versus 15.1% adjusted. Net interest expense was $645 million, and the GAAP tax rate was 32.9% versus 15.4% adjusted.
The company raised its 2026 adjusted diluted EPS outlook to $14.08 to $14.28 from $13.96 to $14.16. The market has reacted to these announcements by moving the company's shares -1.11% to a price of $198.71. If you want to know more, read the company's complete 8-K report here.
