Name: AbbVie Inc. (NYSE:ABBV) | Income Statement (Quarterly)
Creator: Stock Analysis on Net

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

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AbbVie Inc., consolidated income statement (quarterly data)

US$ in millions

3 months ended:	Sep 30, 2026	Jun 30, 2026	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021
Net revenues	17,404)	16,990)	15,002)	16,618)	15,776)	15,423)	13,343)	15,102)	14,460)	14,462)	12,310)	14,301)	13,927)	13,865)	12,225)	15,121)	14,812)	14,583)	13,538)	14,886)	14,342)	13,959)	13,010)
Cost of products sold	(4,285)	(4,291)	(4,218)	(4,552)	(5,304)	(4,346)	(4,002)	(4,396)	(4,212)	(4,202)	(4,094)	(5,704)	(6,485)	(4,240)	(3,986)	(4,170)	(5,022)	(4,170)	(4,052)	(4,320)	(4,390)	(4,523)	(4,213)
Gross margin	13,119)	12,699)	10,784)	12,066)	10,472)	11,077)	9,341)	10,706)	10,248)	10,260)	8,216)	8,597)	7,442)	9,625)	8,239)	10,951)	9,790)	10,413)	9,486)	10,566)	9,952)	9,436)	8,797)
Selling, general and administrative	(4,087)	(3,632)	(3,578)	(3,895)	(3,569)	(3,253)	(3,293)	(3,855)	(4,205)	(3,377)	(3,315)	(3,193)	(3,372)	(3,268)	(3,039)	(3,417)	(3,304)	(5,412)	(3,127)	(3,260)	(3,083)	(3,164)	(2,842)
Research and development	(2,567)	(2,344)	(2,472)	(2,579)	(2,319)	(2,131)	(2,067)	(6,774)	(2,130)	(1,948)	(1,939)	(1,927)	(1,723)	(1,733)	(2,292)	(1,790)	(1,614)	(1,609)	(1,497)	(1,827)	(1,673)	(1,802)	(1,782)
Acquired IPR&D and milestones	(216)	(291)	(744)	(1,265)	(2,680)	(823)	(248)	(1,574)	(82)	(937)	(164)	(282)	(66)	(280)	(150)	(243)	(40)	(269)	(145)	(405)	(390)	(97)	(70)
Other operating income (expense), net	18)	—)	—)	217)	—)	24)	—)	7)	—)	—)	—)	—)	—)	169)	10)	1)	(229)	172)	—)	—)	(500)	68)	—)
Operating earnings	6,267)	6,432)	3,990)	4,544)	1,904)	4,894)	3,733)	(1,490)	3,831)	3,998)	2,798)	3,195)	2,281)	4,513)	2,768)	5,502)	4,603)	3,295)	4,717)	5,074)	4,306)	4,441)	4,103)
Interest expense, net	(700)	(679)	(645)	(655)	(667)	(678)	(627)	(610)	(591)	(506)	(453)	(378)	(398)	(454)	(454)	(476)	(497)	(532)	(539)	(571)	(585)	(606)	(622)
Net foreign exchange gain (loss)	—)	—)	—)	(11)	(20)	(23)	(4)	(19)	3)	(1)	(4)	(49)	(25)	(37)	(35)	(40)	(36)	(47)	(25)	(16)	(12)	(14)	(9)
Other income (expense), net	(738)	(1,475)	(2,306)	(1,210)	(503)	(2,639)	(1,441)	(150)	(1,159)	(1,345)	(586)	(1,556)	95)	(1,412)	(1,804)	(2,021)	330)	(1,533)	776)	(216)	(21)	(2,658)	395)
Earnings before income tax (expense) benefit	4,829)	4,278)	1,039)	2,668)	714)	1,554)	1,661)	(2,269)	2,084)	2,146)	1,755)	1,212)	1,953)	2,610)	475)	2,965)	4,400)	1,183)	4,929)	4,271)	3,688)	1,163)	3,867)
Income tax (expense) benefit	(609)	(662)	(342)	(853)	(526)	(613)	(372)	2,246)	(520)	(773)	(383)	(388)	(172)	(583)	(234)	(493)	(448)	(255)	(436)	(226)	(508)	(394)	(312)
Net earnings	4,220)	3,616)	697)	1,815)	188)	941)	1,289)	(23)	1,564)	1,373)	1,372)	824)	1,781)	2,027)	241)	2,472)	3,952)	928)	4,493)	4,045)	3,180)	769)	3,555)
Net earnings attributable to noncontrolling interest	(2)	(3)	(2)	1)	(2)	(3)	(3)	1)	(3)	(3)	(3)	(2)	(3)	(3)	(2)	1)	(3)	(4)	(3)	(1)	(1)	(3)	(2)
Net earnings attributable to AbbVie Inc.	4,218)	3,613)	695)	1,816)	186)	938)	1,286)	(22)	1,561)	1,370)	1,369)	822)	1,778)	2,024)	239)	2,473)	3,949)	924)	4,490)	4,044)	3,179)	766)	3,553)

Net revenues demonstrate a consistent long-term growth trajectory, increasing from 13,010 million in March 2021 to 17,404 million by September 2026. A recurring seasonal pattern is evident, with first-quarter revenues typically experiencing a dip before expanding through the subsequent three quarters of each fiscal year.

Gross Profitability and Margin Trends: Gross margins have expanded in alignment with revenue growth, rising from 8,797 million in early 2021 to a peak of 13,119 million by September 2026. The cost of products sold remained relatively stable despite the increase in top-line revenue, suggesting improved production efficiency or pricing strength over the analyzed period.
Operating Expenditure and Investment Patterns: Selling, general, and administrative expenses generally fluctuated between 3,000 million and 4,000 million, with a notable spike to 5,412 million in June 2022. Research and development expenditures typically ranged between 1,500 million and 2,500 million, though a significant anomaly occurred in December 2024, where spending surged to 6,774 million. Additionally, Acquired IPR&D and milestone payments exhibit high volatility, with substantial outflows occurring in June 2024 (937 million), December 2024 (1,574 million), and September 2025 (2,680 million), indicating strategic periodic investments in intellectual property.
Operating Earnings Performance: Operating earnings generally trended upward, reaching a peak of 6,432 million in June 2026. However, performance was interrupted by severe volatility, most notably in December 2024, when operating earnings dropped to a loss of 1,490 million, coinciding with the spike in research and development spending.
Non-Operating Items and Net Income: Interest expenses showed a gradual increase, rising from 622 million in March 2021 to 700 million by September 2026. Other income and expenses were highly erratic, frequently recording large negative values that heavily influenced the bottom line. Consequently, net earnings experienced extreme fluctuations, ranging from a loss of 23 million in December 2024 to a high of 4,220 million in September 2026. The final periods of the analysis show a recovery and growth trend in net earnings attributable to the company.

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AbbVie Inc. (NYSE:ABBV)

Income StatementQuarterly Data

Income Statement
Quarterly Data