AI English summary of an SEC filing — figures as filed
AbbVie ABBVAbbVie said it recorded worldwide net revenues of $41.2 billion, operating earnings of $10.6 billion, diluted earnings per share of $2.41 and operating cash flows of $11.8 billion for the 9 months ended September 30, 2024. Net revenues rose 3% on a reported basis and 4% on a constant currency basis.
Key points
AI summaryAbbVie said it recorded worldwide net revenues of $41.2 billion, operating earnings of $10.6 billion, diluted earnings per share of $2.41 and operating cash flows of $11.8 billion for the 9 months ended September 30, 2024. Net revenues rose 3% on a reported basis and 4% on a constant currency basis.
The company said Humira net revenues on a constant currency basis fell 37% for the 3 months and 33% for the 9 months. Skyrizi revenues rose 51% for the 3 months and 49% for the 9 months, while Rinvoq revenues rose 47% for the 3 months and 55% for the 9 months.
The company said charges related to changes in fair value of contingent consideration liabilities were included in other expense (income), net of $1.4 billion for the 3 months of 2024 and $3.5 billion for the 9 months. It explained that the change reflected higher estimated Skyrizi sales and the passage of time.
The company said it paid cash consideration of $18.5 billion to acquire ImmunoGen and Cerevel Therapeutics in the 9 months of 2024, before deducting cash acquired of $952 million. The senior notes it issued to finance the acquisitions had aggregate principal of $15.0 billion.
Key figures
Quarter ended September 30, 2024
- Revenue
- $14.5B
- Operating income
- $3.8B
- Net income
- $1.6B
- EPS
- $0.88
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
Nine-Month Results Overview
AbbVie said it recorded worldwide net revenues of $41.2 billion, operating earnings of $10.6 billion, diluted earnings per share of $2.41 and operating cash flows of $11.8 billion for the 9 months ended September 30, 2024. Net revenues rose 3% on a reported basis and 4% on a constant currency basis.
Source · Based on the MD&A text of the filing
Key Product Net Revenue Changes
The company said Humira net revenues on a constant currency basis fell 37% for the 3 months and 33% for the 9 months. Skyrizi revenues rose 51% for the 3 months and 49% for the 9 months, while Rinvoq revenues rose 47% for the 3 months and 55% for the 9 months.
Source · Based on the MD&A text of the filing
Contingent Consideration Fair Value Change Expense
The company said charges related to changes in fair value of contingent consideration liabilities were included in other expense (income), net of $1.4 billion for the 3 months of 2024 and $3.5 billion for the 9 months. It explained that the change reflected higher estimated Skyrizi sales and the passage of time.
Source · Based on the MD&A text of the filing
Acquisition Financing
The company said it paid cash consideration of $18.5 billion to acquire ImmunoGen and Cerevel Therapeutics in the 9 months of 2024, before deducting cash acquired of $952 million. The senior notes it issued to finance the acquisitions had aggregate principal of $15.0 billion.
Source · Based on the MD&A text of the filing
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.
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