← Who reports today · Health Care
ABBV · Q2 2026
Archived report (Q2 2026). Latest deep dive →
The quarter in brief
The business is healthy — +10% growth and 48% adj. operating margin; Skyrizi + Rinvoq have replaced Humira; GAAP profit is depressed by $3.2B of non-cash items.
Net income
$3,616M
up 284% y/y
Revenue
$16,990M
up 10.2% y/y
Operating income
$6,432M
up 31.4% y/y
Gross profit
$12,699M
up 14.6% y/y
All figures in $M.
| Line item | Amount and change |
|---|---|
| Skyrizi | $5,505 · +24% |
| Rinvoq | $2,525 · +25% |
| Humira | $756 · −36% |
| Vraylar | $1,071 · +19% |
| Botox Therapeutic | $1,042 · +12% |
| Ubrelvy + Qulipta | $742 · +23% |
| Vyalev + other neuro | $373 · ≈+34% |
| Venclexta | $771 · +12% |
| Imbruvica | $532 · −29% |
| Elahere + Epkinly + other | $347 · ≈+45% |
| Botox Cosmetic | $728 · +5% |
| Juvederm + other aesthetics | $554 · −6% |
| Creon / Linzess / Mavyret | $935 · −10% |
| All other | $1,109 · −1% |
| Immunology | $8,786 · +15.1% · 52% of revenue |
| Neuroscience | $3,228 · +20.3% |
| Oncology | $1,650 · −1.5% |
| Aesthetics (Allergan) | $1,282 · +0.3% |
| Other products | $2,044 · ≈ −5% |
| Revenue | $16,990 · +10.2% y/y |
| Cost of revenue | $4,291 · −1.3% · 25% of revenue |
| Gross profit | $12,699 · +14.6% · margin 74.7% (adj. 84.7%) |
| SG&A | $3,632 · +11.7% · 21.4% of revenue |
| R&D | $2,344 · +10.0% · 13.8% of revenue |
| IPR&D & milestones | $291 · −65% |
| Operating income | $6,432 · +31.4% · margin 37.9% (adj. 48.3%) |
| Other income, net | $43 |
| Net interest expense | $679 · +0.1% |
| M&A liabilities remeasurement* | $1,518 · −46% · non-cash |
| Pre-tax income | $4,278 · +175% |
| Income tax | $662 · +8% · rate 15.5% |
| Net income | $3,616 · +284% · EPS $2,03 · adj. EPS $3,65 |
Verdict: the business is healthy — +10% growth and 48% adj. operating margin; Skyrizi + Rinvoq have replaced Humira; GAAP profit is depressed by $3.2B of non-cash items
H1'26: OCF $7.3B · dividends $6.1B · buyback $1.5B · Apogee ~$10.9B · 2026 guidance: adj. EPS $13.87–14.07
Source and notation
* non-cash item. Source: AbbVie press release, 10-Q (SEC EDGAR).
Open as an image: ABBV, Q2 2026 (PNG) ↗ · for sharing and presentations · free to reuse, CC BY 4.0
Cite / embed this chart
Free to use in articles, research and social posts with credit to Who Reports Today and a link — licensed under CC BY 4.0 (terms).
Chart: “ABBV Q2 2026: where the revenue went” by Who Reports Today, https://whoreportstoday.com/t/abbv/q2-2026. Licensed under CC BY 4.0.
<figure> <a href="https://whoreportstoday.com/t/abbv/q2-2026"><img src="https://whoreportstoday.com/t/abbv/q2-2026/sankey.png" alt="ABBV Q2 2026: where the revenue went" loading="lazy" style="max-width:100%;height:auto"></a> <figcaption>Source: <a href="https://whoreportstoday.com/t/abbv/q2-2026">Who Reports Today</a>, licensed under <a href="https://creativecommons.org/licenses/by/4.0/">CC BY 4.0</a></figcaption> </figure>
https://whoreportstoday.com/t/abbv/q2-2026/sankey.png
<a href="https://whoreportstoday.com/t/abbv/q2-2026">ABBV Q2 2026 earnings chart (Who Reports Today)</a>
This is an archived report: the image at this link won’t change. If you change the chart (crop, translate), say so in the credit. Company logos and trademarks are not covered by the license.
- GAAP profit is depressed by ≈$3.2B of non-cash items: $1,518M CVR remeasurement and intangibles amortization — hence the gap between EPS $2.03 and adj. EPS $3.65.
- Humira −36% y/y ($756M) — biosimilar erosion is on script; Skyrizi ($5,505, +24%) and Rinvoq ($2,525, +25%) have more than replaced the loss.
- Aesthetics (Allergan) is stagnating: +0.3%, Juvederm −6% on weak consumer demand; oncology −1.5% dragged by Imbruvica −29%.
- IPR&D & milestones $291M (−65% y/y) — a lumpy one-off line that distorts operating margin quarter to quarter.
- Other income $43M is a counter-flow below operating income; $679M net interest expense reflects the post-Allergan debt load.
- For reference, H1'26: $7.3B OCF covers $6.1B of dividends; the ~$10.9B Apogee acquisition is the next source of non-cash adjustments.
What distorts the picture in this report and what to watch beyond the headlines.
ABBV — AbbVie is a global biopharmaceutical company focused on developing advanced therapies in immunology, oncology, and neuroscience.
It is headquartered in North Chicago, Illinois, and operates worldwide.
More reports: ABT · Q3 2026 · ALGN · Q3 2026 · AMGN · Q2 2026 · BAX · Q3 2026 · BDX · Q3 FY2026 · BIIB · Q3 2026 · BMY · Q3 2026 · BSX · Q3 2026 · CAH · Q4 FY2026 · CI · Q2 2026 · all reports