Pfizer’s second-quarter revenue and profit beat Wall Street expectations, driven by sales of its Covid-19 vaccine and its antiviral treatment Paxlovid.
Pfizer’s revenue grew by 47% to $27.7 billion compared the same quarter last year. The pharmaceutical company booked net income of $9.9 billion, a 78% increase over the same period in 2021.
Here’s how the company performed compared with what Wall Street expected for the second quarter, based on analysts’ average estimates compiled by Refinitiv:
- Adjusted EPS: $2.04 per share, vs $1.78 expected
- Revenues: $27.7 billion, vs. $25.7 billion
Pfizer’s Covid vaccine brought in $8.8 billion in revenue for the second quarter, while sales of Paxlovid totaled $8.1 billion. The company maintained its 2022 sales guidance for the vaccine of $32 billion and is still expecting $22 billion for Paxlovid.
The company also reiterated its overall 2022 revenue and earnings guidance. Pfizer is expecting $98 billion to $102 billion in sales this year and earnings per share of $6.30 to $6.45.
