AbbVie Inc.'s (ABBV) financial performance for Q3 2024 shows a net revenue increase to $14,460 million, up from $13,927 million in Q3 2023, marking a growth of 3.8% at actual currency rates and 4.9% at constant currency rates. For the nine months ended September 30, 2024, net revenues reached $41,232 million, a 3.0% increase from $40,017 million in the same period of 2023, with a 4.1% increase at constant currency rates. This growth is driven by strong performance in key product segments, despite challenges in certain areas.

‍Segment results reveal mixed performance across AbbVie's product lines. The Eye Care segment, including products like Ozurdex and Lumigan/Ganfort, showed varied results with some products experiencing declines in the U.S. market but growth internationally. For instance, Ozurdex saw a slight decline in the U.S. but a 10% increase internationally. The Neuroscience segment, particularly in the U.S., faced challenges with a decline in revenues for products like Mavyret and Linzess/Constella, which saw significant decreases in both U.S. and international markets

‍Strategic initiatives and growth drivers include the acquisition of ImmunoGen, which contributed to the net revenues post-acquisition in February 2024. This acquisition is part of AbbVie's strategy to enhance its product portfolio and drive growth in the oncology segment. Additionally, the company continues to invest in R&D, with expenditures increasing to $2,130 million in Q3 2024 from $1,723 million in Q3 2023, reflecting its commitment to innovation and pipeline development.

‍Risk drivers and financial challenges are evident in the increased cost of products sold, which decreased from $6,485 million in Q3 2023 to $4,212 million in Q3 2024, indicating improved cost management. However, selling, general, and administrative expenses rose significantly to $4,205 million from $3,372 million, highlighting increased operational costs. Interest expenses also increased, impacting net earnings, which decreased to $1,561 million from $1,778 million in the previous year.

‍AbbVie's balance sheet and cash flow reflect strategic financial management. The company declared dividends amounting to $2,757 million in Q3 2024, maintaining shareholder returns. The balance sheet shows a decrease in total equity to $6,071 million from $10,397 million at the end of 2023, influenced by treasury stock purchases and dividend payouts. The company's inventory levels increased to $4,450 million, indicating a buildup in anticipation of future demand or strategic stockpiling.