AbbVie shares fall on earnings miss and weak guidance

Investing.com -- AbbVie Inc. (NYSE: ABBV) reported second-quarter earnings before the open on Friday, missing profit expectations, although revenue beat the consensus estimate.

Adjusted earnings per share came in at $3.65, missing analyst estimates of $3.71, while revenue of $16.99 billion exceeded the consensus estimate of $16.77 billion. The pharmaceutical company’s shares fell 4.7% premarket following the results, driven by the earnings miss and full-year guidance that came in below Wall Street expectations. Revenue increased 10.2% YoY, or 9.5% on an operational basis.

The company lowered its fiscal 2026 adjusted diluted EPS guidance to a range of $13.87 to $14.07, down from the previous range of $13.91 to $14.11. The midpoint of $13.97 falls short of the analyst consensus of $14.12. The updated guidance includes a $0.14 per share dilutive impact related to the proposed acquisition of Apogee Therapeutics, anticipated to close in the third quarter of 2026, and an unfavorable impact of $0.58 per share related to acquired IPR&D and milestones expense incurred year-to-date through the second quarter.

"AbbVie delivered another excellent quarter, marked by outstanding execution and pipeline advancement," said Robert A. Michael, chairman and chief executive officer. "Based on our substantial momentum, AbbVie’s long-term outlook remains very strong."

The company’s immunology portfolio generated $8.786 billion in global net revenues, up 15.1% on a reported basis. Skyrizi led the portfolio with $5.505 billion in revenue, up 24.4%, while Rinvoq contributed $2.525 billion, up 24.5%. Humira revenue declined 35.9% to $756 million.

The neuroscience portfolio posted $3.228 billion in revenue, up 20.3% YoY. Vraylar generated $1.071 billion, Botox Therapeutic contributed $1.042 billion, and combined Ubrelvy and Qulipta revenues reached $742 million.

The oncology portfolio recorded $1.650 billion in revenue, down 1.5% YoY. Venclexta revenue rose 11.6% to $771 million, while Imbruvica declined 29.4% to $532 million. The aesthetics portfolio generated $1.282 billion, up 0.3% YoY.

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