Pfizer Exceeds Q3 Earnings Expectations and Raises Full-Year Guidance
Pfizer (PFE) reported third-quarter financial results that surpassed Wall Street expectations on both the top and bottom lines. The company reported revenue of $16.6 billion, exceeding the anticipated $15.9 billion, while adjusted earnings per share reached 87 cents, significantly higher than the estimated 73 cents. Driven by a 32% growth in revenue from launched and acquired products, management has raised its full-year adjusted earnings guidance to a range of $2.95 to $3.05 per share. This performance comes as Pfizer executes a significant cost-reduction strategy aimed at saving approximately $9.7 billion through 2029 to offset declining COVID-related product sales.
Tickers: $PFE
Topics: earnings report guidance raise healthcare revenue beat
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Part of the story Pfizer Raises Annual Profit and Revenue Forecasts Driven by Eliquis Demand (6 articles)