AbbVie Inc (NYSE: ABBV) has reported Q1 adjusted EPS of $2.46, down 22.2% Y/Y, in line with the consensus.

Overall sales decreased 9.7% Y/Y (down 8.3% on an operational basis) to $12.23 billion, beating the consensus of $12.17 billion.

The immunology portfolio generated $5.59 billion in sales, down 9% (-7.8% on an operational basis). Humira sales decreased 25.2% to $3.54 billion. In Q4, Humira sales increased 4.6% to $5.56 billion.

Skyrizi sales reached $1.36 billion (+44.7% Y/Y), and Rinvoq jumped 47.5% to $686 million, lower than $1.58 billion and $770 million in Q4, respectively.

View more earnings on ABBV

Related: AbbVie Can Write Diversified Growth Story Without Humira, Rest Of The Business Has Strength, Analyst Says.

Hematologic oncology portfolio sales were $1.42 billion, down 14% (-12.9% on an operational basis). Imbruvica sales decreased 25.2% to $878 million. Venclexta revenues were up 13.7% to $538 million.

Sales from the neuroscience portfolio reached $1.69 billion, +13.9%. Aesthetics portfolio sales decreased 5.4% to $1.3 billion, with $659 million in Botox sales for cosmetic uses.

Guidance: AbbVie has revised FY23 adjusted EPS guidance of $10.72 - $11.12 compared to previous guidance of $10.62 - $11.02 and the consensus of $10.94.

Price Action: ABBV shares are down 7.27% at $150.04 on the last check Thursday.

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