Trending: Pfizer 1Q Earnings Top Estimates; Raises FY24 View
14:19 ET -- Pfizer is one of the most mentioned companies in the U.S. across all news items in the past 12 hours, according to Factiva data. The New York-based biopharmaceutical firm said first-quarter earnings were $3.12 billion, or 55 cents a share, and adjusted earnings came in at 82 cents a share, eclipsing the average analyst estimate of 51 cents. Revenue fell 20%, to $14.88 billion, but easily surpassed the average Wall Street estimate of $13.88 billion. Chairman and Chief Executive Albert Bourla said sales of Covid-19 treatment Paxlovid fell, but demand for blood thinner Eliquis and oncology products such as Ibrance, Xtandi, Padcev and Adcetris bolstered sales. For 2024, Pfizer raised its adjusted earnings per share outlook to $2.15 to $2.35 and said it continues to expect revenue of $58.5 billion to $61.5 billion. This guidance doesn't anticipate any share repurchases in 2024. Dow Jones & Co. owns Factiva. (jennifer.tershak@wsj.com)
(END) Dow Jones Newswires
May 01, 2024 14:34 ET (18:34 GMT)
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