AbbVie Inc. stock research
FY2023 Q1
AbbVie (ABBV) Gross Margin — Quarter Ended Mar 31, 2023
Revenue and gross profit both decreased compared to the prior quarter and the same quarter last year, while cost of revenue was relatively stable. Gross margin weakened versus both the preceding quarter and the year-ago period.
Gross margin takeaway
Quarter ended Mar 31, 2023 · FY2023 Q1
Revenue and gross profit both decreased compared to the prior quarter and the same quarter last year, while cost of revenue was relatively stable. Gross margin weakened versus both the preceding quarter and the year-ago period.
- The decline in gross margin was driven by a larger proportional drop in gross profit relative to revenue, as cost of revenue remained nearly unchanged.
- Compared to the prior quarter, revenue and gross profit were lower, while cost of revenue was slightly lower, resulting in a weakened gross margin. Versus the same quarter last year, revenue and gross profit were also lower, with cost of revenue slightly lower, leading to a weaker gross margin.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
67.4%
Gross profit
$8.2B
Revenue
$12.2B
Cost of revenue
$4.0B
Quarter-over-quarter change
n/a
Year-over-year change
-2.7 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Mar 31, 2023 | $12.2B | $8.2B | $4.0B | 67.4% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Previous quarter unavailable
n/a
Year-over-year change
Mar 31, 2022
-2.7 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The decline in gross margin was driven by a larger proportional drop in gross profit relative to revenue, as cost of revenue remained nearly unchanged.
Compared to the prior quarter, revenue and gross profit were lower, while cost of revenue was slightly lower, resulting in a weakened gross margin. Versus the same quarter last year, revenue and gross profit were also lower, with cost of revenue slightly lower, leading to a weaker gross margin.
Monitor the trend in cost of revenue, as it remained relatively stable despite lower revenue, which compressed gross margin.