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AbbVie (ABBV) Q3 FY2025 earnings: revenue $15.8 billion, up 9.1% on the year

AbbVie Inc. (ABBV) reported revenue of $15.8 billion for Q3 FY2025, the quarter ended 30 September 2025, up 9.1% on the same quarter a year earlier. Net income was $186 million, down 88.1% on the year, and diluted earnings per share $0.10. The figures are the company's own, from the 10-Q it filed with the SEC on 4 November 2025.

Revenue
$15.8 billion
+9.1% on the year · +2.3% on the quarter
Q4 FY2023Q3 FY2025
Operating margin
12.1%
26.5% a year earlier
Q4 FY2023Q3 FY2025
Net income
$186 million
-88.1% on the year · -80.2% on the quarter
Q4 FY2023Q3 FY2025
Diluted EPS
$0.10
-88.6% on the year · -80.8% on the quarter
Q4 FY2023Q3 FY2025

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ millionQ3 FY2025Q2 FY2025Q3 FY2024On the quarterOn the yearLast 8 quarters
Revenue15,77615,42314,460+2.3%+9.1%
Cost of revenue5,3044,3464,212+22.0%+25.9%
Gross profit10,47211,07710,248-5.5%+2.2%
Gross margin66.4%71.8%70.9%
Research and development2,3192,1312,130+8.8%+8.9%
Selling, general and administrative3,5693,2534,205+9.7%-15.1%
Operating income1,9044,8943,831-61.1%-50.3%
Operating margin12.1%31.7%26.5%
Interest expense739740720-0.1%+2.6%
Pre-tax income7141,5542,084-54.1%-65.7%
Income tax526613520-14.2%+1.2%
Effective tax rate73.7%39.4%25.0%
Net income1869381,561-80.2%-88.1%
Net margin1.2%6.1%10.8%
Diluted EPS$0.10$0.52$0.88-80.8%-88.6%
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ millionQ3 FY2025Q2 FY2025Q3 FY2024On the quarterOn the yearLast 8 quarters
Operating cash flow7,0245,1535,447+36.3%+29.0%
Capital expenditure381269249+41.6%+53.0%
Free cash flow6,6434,8845,198+36.0%+27.8%
Free cash flow margin42.1%31.7%35.9%
Cash from investing-3,264-1,181-8,256
Cash from financing-4,590-2,710-3,072
Depreciation and amortisation2,0922,0862,091+0.3%+0.0%
Share-based compensation209179181+16.8%+15.5%
Buybacks4.012.017.0-66.7%-76.5%
Dividends paid2,9112,9102,751+0.0%+5.8%
Dividend per share$1.64$1.64$1.550.0%+5.8%
Diluted shares, weighted1,772m1,771m1,772m+0.1%0.0%
Shares outstanding at period end1,767m1,767m1,767m+0.0%+0.0%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ millionQ3 FY2025Q2 FY2025Q3 FY2024On the quarterOn the yearLast 8 quarters
Shareholders' equity-2,642-1836,032
Non-controlling interest43.045.039.0-4.4%+10.3%
Debt68,74370,48171,079-2.5%-3.3%
Other liabilities67,75466,83966,272+1.4%+2.2%
Total liabilities and equity133,898137,182143,422-2.4%-6.6%
Fixed assets5,4835,2835,141+3.8%+6.7%
Goodwill35,62635,63835,295-0.0%+0.9%
Intangible assets54,31557,03166,646-4.8%-18.5%
Investments333310295+7.4%+12.9%
Cash and equivalents5,6296,4677,257-13.0%-22.4%
Receivables12,76912,63711,472+1.0%+11.3%
Inventory4,9384,9604,450-0.4%+11.0%
Other assets14,80514,85612,866-0.3%+15.1%
Total assets133,898137,182143,422-2.4%-6.6%

Questions

What was AbbVie's revenue in Q3 FY2025?

AbbVie (ABBV) reported revenue of $15.8 billion for Q3 FY2025, the quarter ended 30 September 2025, up 9.1% on the same quarter a year earlier.

How much did AbbVie earn in Q3 FY2025?

Net income for Q3 FY2025 was $186 million, down 88.1% on the year, and diluted earnings per share $0.10.

When did AbbVie report Q3 FY2025 results?

AbbVie filed its 10-Q for the quarter ended 30 September 2025 with the SEC on 4 November 2025.

Quarterly results, the last 20 quarters

Q4 FY2021Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025Q1 FY2026Q2 FY2026Q3 FY2026
Revenue14,88613,53814,58314,81215,12112,22513,86513,92714,30112,31014,46214,46015,10213,34315,42315,77616,61815,00216,99017,404
Cost of revenue4,3204,0524,1705,0224,1703,9864,2406,4855,7044,0944,2024,2124,3964,0024,3465,3044,5524,2184,2914,285
Gross profit10,5669,48610,4139,79010,9518,2399,6257,4428,5978,21610,26010,24810,7069,34111,07710,47212,06610,78412,69913,119
Gross margin71%70%71%66%72%67%69%53%60%67%71%71%71%70%72%66%73%72%75%75%
R&D1,8271,4971,6091,6141,7902,2921,7331,7231,9271,9391,9482,1306,7742,0672,1312,3192,5792,4722,3442,567
SG&A3,2603,1275,4123,3043,4173,0393,2683,3723,1933,3153,3774,2053,8553,2933,2533,5693,8953,5783,6324,087
Operating income5,0744,7173,2954,6035,5022,7684,5132,2813,1952,7983,9983,831-1,4903,7334,8941,9044,5443,9906,4326,267
Operating margin34%35%23%31%36%23%33%16%22%23%28%26%-10%28%32%12%27%27%38%36%
Interest expense580548556560566553552555564660726720702700740739714717746802
Pre-tax income4,2714,9291,1834,4002,9654752,6101,9531,2121,7552,1462,084-2,2691,6611,5547142,6681,0394,2784,829
Tax rate5%9%22%10%17%49%22%9%32%22%36%25%n/a22%39%74%32%33%15%13%
Net income4,0444,4909243,9492,4732392,0241,7788221,3691,3701,561-22.01,2869381861,8166953,6134,218
Net margin27%33%6%27%16%2%15%13%6%11%9%11%-0%10%6%1%11%5%21%24%
Diluted EPS$2.26$2.51$0.51$2.21$1.38$0.13$1.14$1.00$0.46$0.77$0.77$0.88-$0.02$0.72$0.52$0.10$1.02$0.39$2.03$2.37
Operating cash flow5,0754,9085,0057,6027,4284,1936,3197,5744,7534,0402,2715,4477,0481,6355,1537,0245,2183,8293,4367,606
Capital expenditure187162143177213175178219205193241249291235269381329265322301
Free cash flow4,8884,7464,8627,4257,2154,0186,1417,3554,5483,8472,0305,1986,7571,4004,8846,6434,8893,5643,1147,305
Buybacks1311,4709.04.04.01,95510.04.03.01,3249.017.035896112.04.03.01,4899.05.0
Dividends paid2,3142,5262,5072,5042,5062,6612,6252,6272,6262,7722,7502,7512,7522,9252,9102,9112,9113,0863,0703,071
Shares outstanding1,769m1,767m1,768m1,768m1,769m1,764m1,765m1,766m1,766m1,766m1,766m1,767m1,765m1,766m1,767m1,767m1,768m1,767m1,767m1,768m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read moreMoney is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2025, filed 4 November 2025: the filing.