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.

AbbVie Inc., consolidated income statement (quarterly data)

US$ in millions

3 months ended:	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	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	(4,291)	(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	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	(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	(2,344)	(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	(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	—)	—)	217)	—)	24)	—)	7)	—)	—)	—)	—)	—)	169)	10)	1)	(229)	172)	—)	—)	(500)	68)	—)
Operating earnings	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	(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	(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	4,278)	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	(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	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	(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.	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 exhibit a general upward trajectory over the analyzed period, growing from 13,010 million USD in March 2021 to 16,990 million USD by June 2026. This growth is characterized by a recurring seasonal pattern, where revenues typically dip in the first quarter of the year before recovering and expanding through the subsequent quarters. Gross margins have followed a similar expansion, peaking at 12,699 million USD in June 2026, although the growth is periodically interrupted by fluctuations in the cost of products sold.

Operating Expense Analysis: Selling, general and administrative expenses remain relatively stable, generally fluctuating between 3,000 million USD and 4,000 million USD, with a notable exception in June 2022 when expenses spiked to 5,412 million USD. Research and development expenditures show a consistent baseline of approximately 1,500 million USD to 2,500 million USD per quarter, interrupted by a significant anomaly in December 2024, where spending surged to 6,774 million USD, severely impacting that quarter's operating results.
Strategic Investment and Acquisition Costs: Expenditures for acquired IPR&D and milestones demonstrate high volatility, indicating an irregular cadence of strategic acquisitions or milestone payments. Significant outflows are observed in September 2025 (2,680 million USD) and December 2024 (1,574 million USD), coinciding with periods of reduced operating earnings.
Non-Operating Volatility: The "Other income (expense), net" line item introduces substantial volatility into the bottom line. Frequent and large negative values—such as those in June 2021 (2,658 million USD) and December 2022 (2,021 million USD)—suggest periodic non-operating losses, write-downs, or currency-related adjustments that decouple net earnings from operating performance.
Profitability and Earnings Trends: Operating earnings are highly inconsistent, ranging from a high of 6,432 million USD in June 2026 to a loss of 1,490 million USD in December 2024. Net earnings attributable to the parent company mirror this volatility, characterized by sharp declines in quarters with high R&D spikes or significant non-operating expenses. Despite these fluctuations, the terminal period shows a strong recovery, with net earnings reaching 3,613 million USD by June 2026.
Financial Obligations: Interest expenses have remained relatively stable, generally hovering between 378 million USD and 679 million USD per quarter, indicating a consistent debt service requirement relative to the overall scale of operations.

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AbbVie Inc. (NYSE:ABBV)

Income Statement Quarterly Data

Income Statement
Quarterly Data