The company said net revenues for Q1 were $12.310 billion, up 0.7% on a reported basis and 1.6% on an operational basis. Diluted EPS was $0.77 on a GAAP basis and $2.31 on an adjusted basis, a decrease of 6.1%.

1. 01

   The company said net revenues for Q1 were $12.310 billion, up 0.7% on a reported basis and 1.6% on an operational basis. Diluted EPS was $0.77 on a GAAP basis and $2.31 on an adjusted basis, a decrease of 6.1%.

2. 02

   AbbVie said Immunology net revenues were $5.371 billion, down 3.9% on a reported basis, and cited Humira biosimilar competition as the reason. Humira net revenues were $2.270 billion, down 35.9%. Skyrizi net revenues were $2.008 billion, up 47.6%, and Rinvoq net revenues were $1.093 billion, up 59.3%.

3. 03

   The company said its GAAP operating margin for Q1 was 22.7% and its adjusted operating margin was 42.2%. The tax rate was 21.8% on a GAAP basis and 14.8% on an adjusted basis, and the adjusted items include intangible asset amortization, among others.

4. 04

   The company said it is raising its adjusted diluted EPS guidance for the full year 2024 to $11.13 - $11.33 from the prior outlook of $10.97 - $11.17. The outlook includes an unfavorable impact of $0.08 per share from acquired IPR&D and milestones expense in Q1.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.