10:34 AM EST, 01/31/2025 (MT Newswires) -- AbbVie ( ABBV ) reported better-than-expected fourth-quarter results on Friday amid robust sales of Skyrizi and Rinvoq, prompting the drugmaker to lift its long-term combined revenue outlook for the two immunology drugs.

Adjusted earnings came in at $2.16 a share for the December quarter, down from $2.79 the year before but ahead of the FactSet-polled consensus of $2.12. Revenue improved 5.6% to $15.1 billion, topping the Street's view for $14.83 billion. The stock rose nearly 8% in Friday trade.

Global sales from the immunology portfolio advanced 4.9% to $7.29 billion, buoyed by gains of 58% and 46% in Skyrizi and Rinvoq, respectively. The company recorded a 49% decline in its rheumatoid arthritis drug Humira, mainly due to "biosimilar competition," Chief Commercial Officer Jeffrey Stewart said during an earnings call, according to a FactSet transcript. The firm continues to see molecule compression in the US for Humira, with "volume moving to other novel mechanisms, which has resulted in a benefit to both Skyrizi and Rinvoq," Stewart said.

AbbVie ( ABBV ) now expects combined sales of more than $31 billion from Skyrizi and Rinvoq in 2027, up from its previous projections of more than $27 billion. For full-year 2024, the two products generated a total of $17.69 billion in revenue, according to MT Newswires' calculations.

In the oncology segment, revenue climbed 12% to $1.69 billion in the fourth quarter, aided by an 11% jump in Venclexta, which helps fight certain blood cancers. The neuroscience division logged revenue growth of 20% to $2.51 billion while the aesthetics portfolio declined 5.2% to nearly $1.3 billion. Eye care sales rose 10%.

The company anticipates adjusted EPS to be in a range of $12.12 to $12.32 for 2025. Revenue is pegged at about $59 billion, Chief Financial Officer Scott Reents said on the call. The Street is looking for non-GAAP EPS of $12.15 and revenue of $59.07 billion. In 2024, adjusted EPS decreased 8.9% on an annual basis while revenue rose 3.7%.

For the ongoing quarter, AbbVie ( ABBV ) sees adjusted EPS between $2.47 and $2.51 on revenue of about $12.8 billion, Reents told analysts. The market's current view is for non-GAAP EPS of $2.56 and sales of $13.07 billion.

The group reiterated its compound annual revenue guidance for a high-single-digit growth rate through 2029.

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