Stock Analysis on Net

AbbVie Inc. (NYSE:ABBV)

Income Statement 
Quarterly Data

AbbVie Inc., consolidated income statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: 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 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Net revenues 14,301 13,927 13,865 12,225 15,121 14,812 14,583 13,538 14,886 14,342 13,959 13,010 13,858 12,902 10,425 8,619 8,704 8,479 8,255 7,828
Cost of products sold (5,704) (6,485) (4,240) (3,986) (4,170) (5,022) (4,170) (4,052) (4,320) (4,390) (4,523) (4,213) (4,684) (5,050) (3,711) (1,942) (2,006) (1,920) (1,819) (1,694)
Gross margin 8,597 7,442 9,625 8,239 10,951 9,790 10,413 9,486 10,566 9,952 9,436 8,797 9,174 7,852 6,714 6,677 6,698 6,559 6,436 6,134
Selling, general and administrative (3,193) (3,372) (3,268) (3,039) (3,417) (3,304) (5,412) (3,127) (3,260) (3,083) (3,164) (2,842) (3,231) (2,846) (3,527) (1,695) (1,951) (1,657) (1,654) (1,680)
Research and development (1,927) (1,723) (1,733) (2,292) (1,790) (1,614) (1,609) (1,497) (1,827) (1,673) (1,802) (1,782) (1,890) (1,706) (1,582) (1,379) (1,542) (2,285) (1,291) (1,289)
Acquired IPR&D and milestones (282) (66) (280) (150) (243) (40) (269) (145) (405) (390) (97) (70) (300) (45) (853) (139) (91) (155)
Other operating income (expense), net 169 10 1 (229) 172 (500) 68 890
Operating earnings 3,195 2,281 4,513 2,768 5,502 4,603 3,295 4,717 5,074 4,306 4,441 4,103 3,753 3,255 752 3,603 3,956 2,617 3,400 3,010
Interest expense, net (378) (398) (454) (454) (476) (497) (532) (539) (571) (585) (606) (622) (618) (620) (614) (428) (455) (420) (309) (325)
Net foreign exchange loss (49) (25) (37) (35) (40) (36) (47) (25) (16) (12) (14) (9) (17) (20) (29) (5) (11) (19) (6) (6)
Other income (expense), net (1,556) 95 (1,412) (1,804) (2,021) 330 (1,533) 776 (216) (21) (2,658) 395 (4,625) (115) (802) (72) (416) (177) (2,278) (135)
Earnings (loss) before income tax (expense) benefit 1,212 1,953 2,610 475 2,965 4,400 1,183 4,929 4,271 3,688 1,163 3,867 (1,507) 2,500 (693) 3,098 3,074 2,001 807 2,544
Income tax (expense) benefit (388) (172) (583) (234) (493) (448) (255) (436) (226) (508) (394) (312) 1,545 (187) (46) (88) (273) (117) (66) (88)
Net earnings (loss) 824 1,781 2,027 241 2,472 3,952 928 4,493 4,045 3,180 769 3,555 38 2,313 (739) 3,010 2,801 1,884 741 2,456
Net (earnings) loss attributable to noncontrolling interest (2) (3) (3) (2) 1 (3) (4) (3) (1) (1) (3) (2) (2) (5) 1
Net earnings (loss) attributable to AbbVie Inc. 822 1,778 2,024 239 2,473 3,949 924 4,490 4,044 3,179 766 3,553 36 2,308 (738) 3,010 2,801 1,884 741 2,456

Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Income statement item Description The company
Net revenues Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. AbbVie Inc. net revenues increased from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.
Operating earnings The net result for the period of deducting operating expenses from operating revenues. AbbVie Inc. operating earnings decreased from Q2 2023 to Q3 2023 but then slightly increased from Q3 2023 to Q4 2023.
Earnings (loss) before income tax (expense) benefit Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. AbbVie Inc. earnings (loss) before income tax (expense) benefit decreased from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.
Net earnings (loss) attributable to AbbVie Inc. The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. AbbVie Inc. net earnings (loss) attributable to AbbVie Inc. decreased from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.