In this article PFE Follow your favorite stocks CREATE FREE ACCOUNT Kena Betancur | Corbis News | Getty Images Pfizer on Tuesday reported third-quarter revenue and adjusted profit that blew past expectations as the company's Covid vaccine and antiviral pill Paxlovid helped boost sales. The pharmaceutical giant also hiked its full-year outlook and now expects to book adjusted earnings per share of $2.75 to $2.
95, up from its previous guidance of 2.45 to $2.65 per share.
Pfizer now expects revenue in a range of $61 billion to $64 billion, up from a previous revenue forecast of between $59.5 billion to $62.5 billion.
That includes roughly $5 billion in expected revenue from its Covid vaccine and $5.5 billion from Paxlovid. Here's what the company reported for the third quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG: Earnings per share: $1.
06 adjusted vs. 62 cents expected Revenue: $17.7 billion vs.
$14.95 billion expected The company booked third-quarter net income of $4.47 billion, or 78 cents per share.
That compares with net loss of $2.38 billion, or 42 cents per share, during the same period a year ago. Excluding certain items, including restructuring charges and costs associated with intangible assets, the company posted earnings per share of $1.
06 for the quarter. Pfizer reported revenue of $17.7 billion for the third quarter, up 31% from the same period a year ago.
It is a critical quarterly report for Pfizer, which is cutting .
