Pfizer 3Q results beat Wall Street estimates

The U.S. drugmaker Pfizer (NYSE: PFE) handily beat Wall Street estimates on revenue and earnings per share in its third-quarter report Tuesday and the company also raised its 2022 earnings guidance. The upbeat Q3 results are supported by the continuing demand for its Covid vaccine and antiviral therapy. The vaccine maker reported third-quarter revenue of $22.6 billion and earnings per share of 1.78 cents.

Earnings per share (EPS): $1.78 vs. $1.39 expected

Revenue: $22.6 billion vs. $21.33 billion expected

Pfizer raised full-year estimates for sales of its Covid-19 vaccine by $2 billion to $34 billion and reaffirmed its forecast for $22 billion in sales of the antiviral Paxlovid. One-third of the company’s revenue came from the antiviral pill Paxlovid, which is given in a five-day course to patients quickly after the onset of COVID-19 symptoms.

Check out the detailed report here -

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