AbbVie raised its full-year adjusted earnings forecast after first-quarter results exceeded expectations, driven by strong demand for its newer immunology drugs Skyrizi and Rinvoq as sales of former top seller Humira continued to fall.

Raising its outlook, the company set a new full-year adjusted diluted earnings target of $14.08 to $14.28 per share, compared with its previous guidance of $13.96 to $14.16. First-quarter adjusted diluted earnings per share came in at $2.65, an increase of 7.7% from the same period a year earlier. On a GAAP basis, diluted EPS was $0.39, a decrease of 45.8%.

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First-quarter net revenues reached $15 billion, an increase of 12.4% on a reported basis. Analysts had projected $14.72 billion, according to Reuters.

Immunology portfolio sales rose 16.4% to $7.29 billion. Quarterly revenue for Skyrizi totaled $4.48 billion, a 30.9% year-over-year gain, and Rinvoq contributed $2.12 billion, reflecting 23.3% growth. Humira, which lost U.S. patent protection in 2023 and has since contended with an influx of lower-cost biosimilars, saw global revenues decline 38.6% to $688 million.

Neuroscience revenues climbed 26% to $2.88 billion, making it another area of notable strength for the quarter. For the first time, Global Botox Therapeutic sales surpassed $1 billion in a single quarter, coming in at $1.009 billion, a 16.5% increase. The schizophrenia drug Vraylar generated $905 million.

The aesthetics portfolio grew 7.6% to $1.19 billion. Botox Cosmetic sales rose 20.2% to $668 million, while Juvederm revenues were $232 million, an increase of 0.4% on a reported basis.

Oncology revenues were $1.63 billion, roughly flat compared with the prior year. Venclexta sales grew 15.7% to $770 million, while Imbruvica revenues fell 24.7% to $556 million.

"We are off to an excellent start in 2026, with first-quarter results exceeding our expectations," CEO Robert A. Michael said in a statement.

The company's updated guidance includes an unfavorable impact of $0.41 per share related to acquired in-process R&D and milestone expenses incurred through the first quarter. AbbVie said the forecast excludes any additional such expenses that may be incurred beyond the first quarter, as those cannot be reliably forecast.

Investors responded positively to the report, sending AbbVie shares up roughly 2% to 3% in premarket trading. Heading into the session, the stock had shed 13.5% on the year.

AbbVie beat earnings expectations and raised its outlook as newer drugs offset Humira's decline

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