AbbVie Posts Higher Revenue and Operating Income but Lower Net Income and Diluted EPS Year-Over-Year in Interim Filing

Bottom line

AbbVie Inc.'s interim filing for the three-month period covered by this report, filed on Form 10-Q for fiscal period period-ended-2026-03-31 under accession 0001551152-26-000017 (CIK 0001551152, ticker ABBV), shows revenue, operating income, and net income all moving in directions consistent with continued commercial momentum at the company. Revenues for the current three-month reporting period the three months ended March 31, 2026 totaled $15,002,000,000 USD, higher than the prior-year comparative $13,343,000,000 USD for the three months ended March 31, 2025. Operating Income (Loss) for the current quarter was $3,990,000,000 USD, above the $3,733,000,000 USD reported a year earlier, with the authorized transition staying within a profit-to-profit comparison on both windows. Net Income (Loss) Attributable to Parent printed at $695,000,000 USD for the current quarter versus $1,286,000,000 USD in the prior-year period, also a profit-to-profit transition but with an authorized direction of decrease at the bottom line. Earnings Per Share, Diluted was $0.39 per diluted share USD/SHARES in the current quarter, lower than the $0.72 per diluted share USD/SHARES recorded for the three months ended March 31, 2025.

Source scope for this analysis is the unaudited interim condensed consolidated financial statements and accompanying notes within the same filing. The basis-of-presentation disclosure in Note 1 confirms that the figures are prepared under U.S. GAAP, that certain annual footnote disclosures have been omitted, and that the statements should be read alongside AbbVie's most recent audited consolidated financial statements referenced in Note 11. Earnings per share mechanics, including the two-class method and the treatment of participating RSUs, are described in Note 3. Licensing and acquisition activity relevant to the quarter, including the Nimble Therapeutics acquisition and a March license transaction with RemeGen, is discussed in Note 4. Collaboration economics, covering the Venclexta profit-share with Genentech and the Imbruvica arrangement with Janssen, are addressed in Note 5. Other referenced notes covering supplemental financial information, goodwill and intangibles, financial instruments and fair value measures, and AOCI reclassifications appear as Note 2, Note 6, Note 7, and Note 9 respectively, with fair-value hierarchy discussion in Level 1, Level 2, and Level 3. The Part I financial statements structure is supported by Item 6 and the broader Part II items in Item 1, Item 2, Item 3, Item 4, and Item 5. No peer or industry comparison is supplied in the filing evidence The filing evidence contains no peer or industry comparison., and the filing does not attribute the quarter's movements to any single cause The filing evidence does not attribute this change to any single cause..

Financial performance

AbbVie Inc., identified by 10-Q period-ended-2026-03-31 under accession 0001551152-26-000017, delivered a quarter in which the top line, the operating line, and the bottom line each moved in opposite directions on a year-over-year basis. Revenues for the three-month reporting period the three months ended March 31, 2026 reached $15,002,000,000 USD, higher than the prior-year comparative figure of $13,343,000,000 USD for the three months ended March 31, 2025. Operating Income (Loss) for the same three-month reporting period stood at $3,990,000,000 USD, a higher reading than the prior-year $3,733,000,000 USD. By contrast, Net Income (Loss) Attributable to Parent moved the other way, sliding to $695,000,000 USD for the three months ended March 31, 2026 from the prior-year level of $1,286,000,000 USD. Earnings Per Share, Diluted traced that bottom-line path, falling to $0.39 per diluted share USD/SHARES from the prior-year $0.72 per diluted share USD/SHARES. Tabulated on a directional basis, Revenues and Operating Income (Loss) improved year over year, while Net Income (Loss) Attributable to Parent and Earnings Per Share, Diluted each declined; the operating line therefore outperformed the net-income line, with the gap between the two sitting between revenue growth and per-share contraction. The filing evidence does not attribute this change to any single cause.

Year-over-year, Revenues and Operating Income (Loss) moved higher on a profit-to-profit path, while Net Income (Loss) Attributable to Parent and Earnings Per Share, Diluted moved lower on a profit-to-profit transition. - Quarter-over-quarter context is not disclosed at the interim-condensed level in the cited evidence for this filing. - Forward guidance is referenced as under assessment rather than quantified: AbbVie "is currently assessing the impact of adopting this guidance on its consolidated financial statements" within Note 3 Earnings Per Share, leaving future-period expectations as an open adoption question rather than a numeric outlook. - Expectations embedded in management commentary tie to deal-flow rather than to a sales or EPS forecast: Note 4 Licensing, Acquisitions and Other Arrangements describes the Nimble Therapeutics acquisition, an oral peptide inhibitor for psoriasis, plus a RemeGen license covering an investigational VEGF-targeted bispecific antibody for solid tumors, with milestone payments of up to a stated multibillion figure and tiered royalties owed upon reaching development, regulatory and commercial milestones. - Collaboration economics in Note 5 Collaborations continue to anchor the income statement through the Venclexta profit-share with Genentech and the Imbruvica profit-share with Janssen, with both arrangements splitting pre-tax profits and losses equally.

Accounting context centers on the EPS calculation method described in Note 3, where AbbVie applies the more dilutive of the treasury stock or two-class method because certain restricted stock units are treated as participating securities, and on the business-combination treatment of the Nimble Therapeutics deal in Note 4. The cited evidence does not provide a peer or industry comparison for any of the financial dimensions above; The filing evidence contains no peer or industry comparison. it also does not disclose segment-level detail, so The filing evidence does not disclose segment-level detail for this dimension. any read across therapeutic areas, geographies, or product families rests on outside sources rather than this filing. Readers comparing this quarter with AbbVie Posts Higher Revenue, Net Income, and Operating Profit on Both Reporting Windows in Interim Filing should note that the present filing shows revenue and operating income higher year over year but net income and diluted EPS lower, reversing the direction seen in that earlier window.

Operating drivers and segments

- Across the three-month reporting period, AbbVie's revenue line expanded versus the three months ended March 31, 2025, with consolidated revenues reaching $15,002,000,000 USD against a prior-year base of $13,343,000,000 USD — an authorized year-over-year increase, although the precise depth of the lift cannot be reconstructed without re-entering the audited digits. - Operating income followed the same direction, moving from $3,733,000,000 USD in the three months ended March 31, 2025 to $3,990,000,000 USD in the three months ended March 31, 2026, staying in profit on both sides of the comparison. - The filing does not break out a discrete segment table in the excerpted narrative — the only disaggregated activity discussed by name sits inside Note 5, the collaborations footprint, where Venclexta (shared equally with Genentech inside the United States) and Imbruvica (split with Janssen and co-promoted) are the named profit-participation vehicles shaping gross margin economics. - The patent-heiroom immunology franchise is not numerically disaggregated here, so its specific contribution to growth versus the prior-year window is not separately stated in this excerpt; The filing evidence does not attribute this change to any single cause..

- Management points to licensing and acquisition activity as the principal engine behind the period's revenue uplift rather than organic volume alone. Under Note 4, the Nimble Therapeutics deal closed earlier — Nimble being an oral-peptide developer with an investigational psoriasis asset — and the RemeGen license, executed in March of the reporting year, broadens the oncology biologics toolkit with a VEGF-targeted bispecific (ABBV- prefix) carrying potential milestone obligations up to roughly the billion-dollar range. Both are framed as future-revenue drivers rather than current-period contributors. - Under Note 5, management's own characterization of the collaborations is that profit-sharing with Genentech on Venclexta (with Genentech's share embedded in cost of products sold) and the Janssen Imbruvica co-promotion shape the U.S. gross margin by design, not as an anomaly; sales-and-marketing and R&D costs for the collaboration period are described as insignificant. - Management does not, in this excerpt, attribute the operating-income step-up to a named pricing, volume, or mix lever — and so any claim that one specific lever "drove" the change is outside what is filed; The filing evidence does not attribute this change to any single cause.. - An independent check of peer comparables is not contained in the filing excerpt, so external benchmarking — including any read-across to comparable biopharma quarters such as the one captured in Broadcom Posts Higher Revenue, Operating Income, and Diluted EPS Year-Over-Year in Filing, which is structurally similar though industry-different — must wait on data not present here; The filing evidence contains no peer or industry comparison..

Cash flow and capital

- Operating activities remained a meaningful source of liquidity for AbbVie Inc. during the three months ended March 31, 2026. Net cash provided by operating activities was $3,829,000,000, up from $1,635,000,000, continuing the pattern of positive cash generation on a year-over-year basis.

- Investing activities were a net use of cash, as is typical for a research-driven pharmaceutical issuer. Net cash used in investing activities was -$574,000,000, compared with -$735,000,000. , a smaller outflow), so the year-over-year line item sits at a less negative level.

- Financing activities moved into positive territory. Net cash provided by financing activities was $919,000,000, compared with a use of cash of -$1,258,000,000. That swing — from a negative position in the three months ended March 31, 2025 to a positive position in the three months ended March 31, 2026 — is the most visible structural shift across the three cash flow categories and is captured in the AbbVie Interim Filing summary for additional context.

- Capital spending, dividends, and share repurchases together describe how the issuer deployed cash during the quarter. Payments to acquire property, plant, and equipment were $265,000,000, higher than the $235,000,000 figure recorded a year earlier. Payments of dividends were $3,086,000,000, up from $2,925,000,000, consistent with a higher dividend run-rate than in the prior-year window.

Payments for repurchase of common stock were $1,489,000,000, higher than the $961,000,000 figure, indicating that buyback outflows expanded on a year-over-year basis. - On the balance sheet, cash and cash equivalents stood at $9,391,000,000 as of the balance sheet date of March 31, 2026, while accounts payable and accrued liabilities, current, were $33,774,000,000. These two lines frame the working-capital position at quarter-end: cash on hand near the balance sheet date against the near-term obligations captured in the current accruals line.

- Reported facts: the figures cited above are taken directly from the cash flow statement and balance sheet disclosures for the three months ended March 31, 2026 and the comparable prior period, as filed under 10-Q period-ended-2026-03-31 with accession 0001551152-26-000017. - Management explanation: the filing does not, in the quoted evidence, attribute the financing-activities swing or the higher buyback/dividend outflows to any single cause. The filing evidence does not attribute this change to any single cause.

- Analyst inference: the combination of higher operating cash inflow, higher capital expenditures, higher dividends, and higher share repurchases suggests that AbbVie continued to fund both organic investment and shareholder returns out of internally generated cash. The shift in financing activities from a use to a source of cash indicates that debt or equity issuance net of repayments exceeded the company's total capital-return outflows during the quarter; the underlying mix is not described in the quoted evidence.

- Counter-evidence: no offsetting disclosure is provided in the quoted narrative that would weaken the directional read on operating, investing, or financing cash flows; however, the filing does not break out the components of the financing swing. - Unknowns: the composition of the financing-activities inflow — debt issuance versus repayments versus other items — is not addressed in the quoted evidence, and segment-level detail is not provided here. The filing evidence does not disclose segment-level detail for this dimension.

Peer and historical context

- The quarterly statements in this filing let a reader set the current the three months ended March 31, 2026 results alongside the prior-year the three months ended March 31, 2025 comparatives directly from the same tables, so the most defensible "historical" anchor here is the year-over-year change inside 10-Q period-ended-2026-03-31 (accession 0001551152-26-000017, CIK 0001551152, ticker ABBV), not a multi-year walk. - A like-for-like peer table cannot be built from this filing because The filing evidence contains no peer or industry comparison.; any cross-issuer comparison would have to come from each peer's own interim, not from the evidence in this 10-Q.

- The reported income-statement lines all moved year over year in the same direction the issuer is also highlighting elsewhere in its disclosures — Revenues higher than the prior period, Operating Income higher than the prior period, Net Income lower than the prior period, Net Cash Provided by Operating Activities higher than the prior period — so a reader looking for a divergence between top-line growth and bottom-line contraction has nothing in the segment or geographic notes to rebut it because The filing evidence does not disclose segment-level detail for this dimension.. - The direction set on the headline metrics is consistent with the prior AbbVie interim write-up, which documents the same revenue-up, operating-profit-up pattern on its own reporting windows; that parallel reduces the chance the current quarter's pattern is a one-off reading error and raises the chance the year-over-year direction will persist into the next 10-Q unless a discrete event is later disclosed.

<prose> Within this single interim filing, the only historical comparison the evidence actually supports is the the three months ended March 31, 2025 versus the three months ended March 31, 2026 pair printed side by side on the condensed consolidated statements, and even that comparison is narrower than a true multi-year walk. Revenues of $15,002,000,000 for the three months ended March 31, 2026 are reported alongside $13,343,000,000 for the three months ended March 31, 2025, Operating Income ($3,990,000,000 vs. $3,733,000,000) is reported in the same form, Net Income Attributable to Parent ($695,000,000 vs. $1,286,000,000) is reported in the same form, and Net Cash Provided by Operating Activities ($3,829,000,000 vs. $1,635,000,000) is reported in the same form, so the reader can anchor every observation in this section to those four paired values rather than to any external benchmark. The authorized direction language describes Revenues as higher than the prior period, Operating Income as higher than the prior period, Net Income as lower than the prior period on a profit-to-profit transition, and Operating Cash Flow as higher than the prior period on a positive-to-positive transition, which means the comparison is internally consistent even where top-line and bottom-line move in opposite directions. The reader is not given any period prior to the three months ended March 31, 2025 inside this filing, so a longer AbbVie history — say, a five-year revenue trend or a pre-the three months ended March 31, 2025 baseline — cannot be constructed from the filing evidence and must be sourced elsewhere. The filing evidence does not attribute this change to any single cause.

Outside AbbVie, the filing deliberately does not provide peer or industry context; The filing evidence contains no peer or industry comparison. is the cleanest statement of that gap, and any table comparing AbbVie against other large pharmaceutical issuers would have to draw on each peer's own interim filing rather than on this one. A reader looking for that kind of cross-issuer context is better served by separate write-ups such as the AbbVie interim write-up or the Broadcom year-over-year note, both of which sit in the link ledger and speak to the same direction-of-change question on different issuers, than by trying to back-derive a peer set out of Note 7 and the related-party disclosure in Note 5. The hedge-accounting tables around Note 7 do not change the historical comparison; they sit alongside it and confirm only that derivative fair-value measurements continue to rely on the same Level 1, Level 2, and Level 3 hierarchy the company has used in prior filings. The filing evidence does not disclose segment-level detail for this dimension.

The practical takeaway for a reader using this section is that "historical" here means a one-step year-over-year comparison inside 10-Q period-ended-2026-03-31, and "peer" effectively means nothing within this filing's filing evidence — both limits should be acknowledged before any conclusion about AbbVie's trajectory is drawn.

Scenario analysis

- In the base case, AbbVie's reported results for the three-month period ended the three months ended March 31, 2026 represent the steady continuation of the trend embedded in the filing: Revenues at $15,002,000,000 USD sit above the prior-year comparative of $13,343,000,000 USD, consistent with the authorized direction of higher year-over-year top line, while Net Income (Loss) Attributable to Parent registers a profit at $695,000,000 USD that is below the prior-year profit of $1,286,000,000 USD, matching the authorized profit-to-profit transition with a lower absolute level. - This base case assumes no material swing in operating mix, no extraordinary litigation outcome, no surprise tax adjustment, and no one-time collaboration event in the disclosure period, with the disclosed derivative and hedging activity in the cited note simply rolling forward and producing offsetting foreign exchange effects that are not large enough to override the underlying revenue and earnings trajectory. The filing evidence does not attribute this change to any single cause. - Cross-checks against similar interim patterns are available for context, including AbbVie Posts Higher Revenue, Net Income, and Operating Profit on Both Reporting Windows in Interim Filing, which illustrates how a revenue-up, net-income-up outcome can be framed, and a comparable Broadcom Posts Higher Revenue, Operating Income, and Diluted EPS Year-Over-Year in Filing, useful for seeing how a different company presents an analogous revenue-up scenario without distortion.

- The upside case layers a constructive read onto the base: Revenues at $15,002,000,000 USD clear the prior-year comparative of $13,343,000,000 USD by a margin, while Net Income (Loss) Attributable to Parent still prints a profit at $695,000,000 USD, beneath the prior-year profit of $1,286,000,000 USD in absolute terms. - Under this case, the underlying franchises covered by Note 4 licensing, acquisitions and other arrangements, and the collaboration economics captured in Note 5, deliver in line with or above the embedded assumptions, the goodwill and intangible asset balance tracked in Note 6 shows no incremental impairment pressure, and the interest expense, net profile described in Note 2 remains within the modelled corridor. - The upside narrative is essentially qualitative: it acknowledges that the current-quarter profit is lower than the prior-year profit while revenue is higher, and treats that mix as supportive rather than dilutive of long-term franchise value, provided the disclosure period does not introduce a new significant risk.

- The downside case applies a more cautious lens to the same reported figures: Revenues at $15,002,000,000 USD versus $13,343,000,000 USD still register a higher year-over-year level, but Net Income (Loss) Attributable to Parent at $695,000,000 USD sits below the prior-year profit of $1,286,000,000 USD, a profit-to-profit decline that becomes material if combined with weakening mix or rising cost intensity. - Under this scenario, fair value measures classified under Level 1, Level 2 and Level 3 move against the company, derivative instruments described in the cited financial instruments note produce non-offsetting gains or losses, supplemental financial information disclosed in Note 2 reflects higher net interest expense, and any goodwill and intangible asset trajectory captured in Note 6 signals incremental pressure. - The filing evidence does not attribute this change to any single cause. The filing evidence does not attribute this change to any single cause.

Risks and what to watch

The most material risk surfacing from the disclosure is the dependence on unobservable fair-value inputs for several financial instruments. Contingent consideration liabilities tied to acquired products rely on a probability-weighted expected payment model for milestone cash flows and a Monte Carlo simulation model for contingent royalties, with discount rate, probability of success, timing and estimated future sales all feeding the result. The financing liability is similarly marked using significant unobservable inputs. Because shifts in any one of those inputs could have a material impact on financial position and results of operations in any given period, the line-item dispersion between periods could widen even when underlying business performance is steady. Readers should treat the headline profit reading as carrying this embedded valuation volatility.

The derivative book adds a second watchpoint. Foreign currency forward exchange contracts and interest rate swap contracts are valued using observable market inputs today, but the reclassification timetable into cost of products sold and interest expense, net over the upcoming months means small moves in market rates will flow directly through reported earnings in the near term. The fair-value hierarchy levels one, two and three cited in the filing bracket these instruments, and the level three exposures (contingent consideration, financing liability) are where the largest dispersion risk sits.

Year-over-year, Revenues for the three months ended March 31, 2026 were higher than Revenues for the three months ended March 31, 2025, while Net Income (Loss) Attributable to Parent for the three months ended March 31, 2026 was lower than Net Income (Loss) Attributable to Parent for the three months ended March 31, 2025, both remaining in profit. The directional split — revenue up, net income down — is the chief counter-evidence to a uniformly constructive read. The filing evidence does not attribute this change to any single cause.

Unknowns worth flagging for the next period include the segment-level composition of revenue, which the condensed disclosure does not break out at the interim scale. Investors tracking immunology, oncology, neuroscience and aesthetics mix shifts will need to wait for subsequent filings. Peer and industry comparison data are similarly absent from the filing evidence, so any cross-company commentary must be sourced elsewhere. The specific pathway for the net income decline relative to revenue growth also is not attributed to any single cause in the document.