AbbVie (NYSE: ABBV) raises its profit outlook as immunology sales jump 16.3%

Posted by George Bondi on Oct 30th, 2026

What happened

AbbVie Inc. (NYSE: ABBV) raised its 2026 adjusted earnings outlook after third-quarter revenue grew 10.3% to $17.4 billion. Growth was 10.5% when currency rates are held at the prior year's levels.

The company also said it completed its acquisition of Apogee Therapeutics and raised its quarterly dividend. All of this came in one release on Oct. 30.

Full-year adjusted earnings per share guidance now runs from $13.95 to $13.99, up from $13.76 to $13.96. The new range includes an unfavorable $0.69 per share from acquired IPR&D and milestones expense incurred through the third quarter. It leaves out any such expense after the third quarter, which AbbVie says it cannot reliably forecast.

Key numbers

Metric	Latest	Change	Source
Worldwide net revenues, Q3 2026	$17.4 billion	from $15.78 billion, +10.3%	SEC 8-K, Exhibit 99.1
Immunology net revenues, Q3 2026	$9.16 billion	+16.3%	SEC 8-K, Exhibit 99.1
Adjusted diluted EPS, Q3 2026	$3.82	from $1.86, +105.4%	Calculated from SEC 8-K, Exhibit 99.1
2026 adjusted diluted EPS guidance (prior range $13.76 – $13.96)	$13.95 – $13.99		SEC 8-K, Exhibit 99.1
Quarterly dividend per share (prior $1.73)	$1.82	+5.2%	SEC 8-K, Exhibit 99.1

Read more: AbbVie (ABBV) company research

Where the growth came from

Immunology is the biggest portfolio in the release. Its revenue was $9.16 billion, up 16.3% and up 16.6% when currency is held constant.

Skyrizi brought in $5.78 billion, up 22.7%. Rinvoq brought in $2.71 billion, up 23.9%. Humira fell 31.2% to $683 million. All three changes are as reported.

Neuroscience grew faster than immunology, up 19.4% to $3.39 billion. Oncology edged up 0.8% to $1.7 billion. Aesthetics slipped 1.4% to $1.18 billion.

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What the earnings include

Diluted earnings per share were $2.37 on a GAAP basis, against $0.10 a year earlier. Adjusted earnings per share were $3.82, against $1.86.

The year-earlier quarter had $2.68 billion of acquired IPR&D and milestones expense, a $1.50 per share hit. It also had $847 million of intangible asset impairment charges tied to the Resonic and Durysta assets.

This quarter's acquired IPR&D and milestones expense was $216 million, a $0.11 per share drag. Operating earnings were $6.27 billion, up from $1.9 billion a year earlier.

Adjusted results leave out items that still weigh on GAAP numbers. These include $1.67 billion of intangible asset amortization and $829 million from the change in fair value of contingent consideration. They also leave out $408 million of acquisition and integration costs, mostly tied to Apogee.

Those specified items totaled $3.04 billion before tax. That is the gap between GAAP pre-tax earnings of $4.83 billion and the adjusted $7.87 billion.

Why it matters

OptimistFi has argued that AbbVie turns patent-protected franchises, led by Skyrizi and Rinvoq, into repeatable cash that funds R&D, dividends and outside deals. The quarter supports the revenue side of that view. OptimistFi calculates that Skyrizi and Rinvoq together brought in $8.48 billion, or 48.7% of worldwide net revenues.

The payout side also moved. The board raised the quarterly dividend to $1.82 per share from $1.73, a 5.2% increase. AbbVie says it has raised the dividend 355% since its start in 2013.

Apogee adds zumilokibart, a late-stage antibody targeting IL-13 for atopic dermatitis, and APG273, a long-acting IL-13 and TSLP combination for asthma. Both sit in immunology, the same portfolio where Humira keeps shrinking.

The limits are in the earnings. GAAP results still carry acquisition-related amortization and contingent consideration, and the gap between GAAP and adjusted per-share results remains wide. Aesthetics declined, and oncology grew by less than 1%.

What's next

AbbVie's next quarterly report will show whether Skyrizi and Rinvoq keep growing at rates near this quarter's. It will also show whether the 2026 guidance range holds. Guidance leaves out further acquired IPR&D and milestones expense, so any new charge would pressure reported results.

The release also lists dated pipeline steps. AbbVie's Phase 3 INTREPID study of lutikizumab in hidradenitis suppurativa met its primary endpoint. More data, including a 36-week blinded extension, are expected next year and will support regulatory submissions in the second half of 2027.

AbbVie has also applied to the European Medicines Agency for subcutaneous Skyrizi induction in Crohn's disease. It submitted a Biologics License Application to the FDA for etentamig in relapsed refractory multiple myeloma.