AbbVie (ABBV) Stock: Q1 Earnings Beat and EPS Outlook Raised

TLDR

AbbVie Inc. (NYSE: ABBV) impressed investors with strong Q1 2025 results. The stock closed at $186.06 on April 25, up 3.15%. Adjusted earnings per share (EPS) were $2.46, topping the Zacks Consensus Estimate of $2.39 and rising 6.5% year over year. Total net revenues reached $13.34 billion, surpassing forecasts and reflecting an 8.4% increase compared to last year.

AbbVie (ABBV) 

The company raised its full-year 2025 adjusted EPS outlook to $12.09–$12.29, up from its prior range of $11.99–$12.19. AbbVie now expects about $59.7 billion in revenue for the year, $700 million higher than previous projections.

Immunology Leads Growth Despite Humira Headwinds

AbbVie’s immunology portfolio drove much of the top-line growth. Skyrizi and Rinvoq combined for $5.1 billion in sales, each outperforming expectations. Skyrizi revenue surged 72% year over year to $3.43 billion, while Rinvoq sales rose nearly 60% to $1.72 billion.

Meanwhile, Humira sales continued to decline due to biosimilar competition. Global Humira revenue fell 49.5%, with U.S. sales down 58%. AbbVie now forecasts U.S. Humira sales of $3.5 billion for 2025, $500 million lower than earlier expectations.

Neuroscience and Oncology Expand

AbbVie’s neuroscience division posted $2.28 billion in revenue, up 17% year over year. Growth was fueled by Botox Therapeutic (up 17%), depression drug Vraylar (up 10.3%), and migraine treatments Ubrelvy and Qulipta.

Oncology sales increased 7.5% to $1.63 billion. New drugs like Elahere and Epkinly contributed meaningfully, while Venclexta sales grew 12.3%. Imbruvica sales dropped 11.9%, but still beat Wall Street expectations.

Aesthetics Portfolio Struggles

The aesthetics segment faced headwinds, with sales declining 10.2% to $1.1 billion. Botox Cosmetic revenue fell 10.7%, and Juvederm sales dropped 20%. Economic pressures and declining consumer sentiment weighed on demand.

AbbVie moderated its full-year aesthetics guidance, lowering expectations for Botox and Juvederm each by $100 million.

Solid Financial Position Despite Risks

AbbVie reported a strong adjusted gross margin of 84.1% and an adjusted operating margin of 42.3%. The adjusted tax rate for the quarter stood at 14.2%.

However, the company noted risks from potential sectoral tariffs, which were not factored into current 2025 guidance.

Looking Ahead

AbbVie’s first-quarter performance highlighted its successful shift away from reliance on Humira. Strength in immunology, neuroscience, and oncology helped drive results beyond expectations. The raised EPS guidance and expanding pipeline, including forays into obesity treatments, position AbbVie for long-term growth.

Despite some near-term pressures in aesthetics and legacy products, the overall outlook for 2025 remains positive. Shares have gained 6.67% year-to-date, outperforming the S&P 500’s 6.06% decline.

AbbVie is scheduled to report its next earnings between July 23 and July 28, 2025.

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