Business

Pfizer tops Q1 expectations, revises 2022 forecast


Sales of Pfizer’s COVID-19 vaccine and remedy pushed the drugmaker nicely previous expectations within the first quarter, as revenue grew 61%.

The coronavirus vaccine Comirnaty introduced in additional than $13 billion in gross sales, and the remedy Paxlovid added one other $1.5 billion as firm income swelled 77%, the corporate mentioned Tuesday.

Pfizer posted adjusted earnings of $1.62 per share within the first quarter, on $25.66 billion in income.

Analysts anticipated per-share earnings of $1.49 on about $24.1 billion in gross sales, based on FactSet.

Pfizer Inc., based mostly in New York, additionally revised its 2022 earnings forecast to replicate an accounting coverage change. It now expects adjusted earnings of $6.25 to $6.45 per share.

That’s down from its earlier forecast for $6.35 to $6.55 per share.

Analysts forecast earnings of $7.14 per share.

Shares ticked barely increased earlier than the opening bell Thursday.



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