Shares of AbbVie vaulted 5.7% on October 30 after the drugmaker delivered third-quarter results that exceeded Wall Street expectations across the board. AbbVie posted adjusted earnings per share of $3.82 on revenue of $17.4 billion , topping the consensus forecast of roughly $3.77 EPS and $17.35 billion in sales. The company also raised its full-year guidance, signaling confidence in its ongoing growth trajectory.

  • The Humira Handoff Is Officially Working. Immunology revenue hit $9.165 billion, up 16.3%, powered by $5.776 billion from Skyrizi — AbbVie's fast-growing treatment for psoriasis and other inflammatory conditions — and $2.706 billion from Rinvoq, its rheumatoid arthritis drug.

These newer drugs are now compensating for the ongoing decline in Humira, the once-blockbuster treatment that lost patent protection.

Management lifted full-year immunology guidance to $34.9 billion, with Skyrizi at $21.8 billion and Rinvoq at $10.3 billion. That matters because it proves AbbVie has survived the biggest patent cliff in pharma history.

  • A Dividend Hike Sweetens the Pot — but the Valuation Raises Questions. AbbVie announced a 5.2% increase in its quarterly dividend to $1.82 per share. Income investors get a reward, yet the stock now trades at a trailing price-to-earnings ratio of roughly 82, well above its five-year median of about 60. At these levels, even small disappointments could trigger sharp pullbacks — shares fell 4.45% on earnings day after the Q3 2025 beat and 2.51% after Q2 2026's beat.

  • Guidance Keeps Rising, but Acquisition Costs Cloud the Picture. AbbVie raised full-year adjusted EPS guidance by $0.11 at the midpoint to $13.95–$13.99 , the third upward revision this year. However, that guidance explicitly excludes any additional research-and-development charges from acquisitions that could still land in Q4, leaving some uncertainty around the final reported number.

  • Neuroscience Is the Quiet Growth Engine. The brain-health portfolio delivered $3.389 billion, up 19.5% operationally, prompting management to raise its full-year target by $300 million to $13 billion. Diversifying revenue beyond immune-system drugs reduces risk if competition intensifies in that space.

The bottom line: AbbVie's post-Humira reinvention is succeeding — but at a premium valuation that leaves shareholders with little margin for error.