Pharmaceutical giant Pfizer (PFE) has posted better-than-expected third-quarter earnings and
raised its forward guidance for the year.
Specifically, Pfizer said it now expects earnings per share of $6.40 U.S. to $6.50 U.S. for the
year, up from a previous forecast of $6.30 U.S. to $6.45 U.S.
The company also raised its sales guidance, saying it now expects revenues of $99.5 billion
U.S. to $102 billion U.S. for all of this year.
Pfizer lifted its full-year sales guidance for its popular COVID-19 vaccine to $34 billion U.S. this
year, up $2 billion U.S. from its previous estimate.
The improved guidance comes after the company announced Q3 earnings per share of $1.78
U.S. versus $1.39 U.S. that was expected by analysts. Revenues in the July through September
period came in at $22.6 billion U.S. compared to $21 billion U.S. that was forecast.
Pfizer’s stock is down 18% this year and trading at $46.55 U.S. per share.
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