Pfizer Q3 Earnings: Revenue And Profit Beat On Heightened Demand For Paxlovid, Expects $10 Billion In 2024 Revenue From COVID Products

On Tuesday, Pfizer Inc. (NYSE:PFE) reported third-quarter adjusted EPS of $1.06, a turnaround from loss of 17 cents a year ago, beating the consensus of $0.62.

The U.S. drugmaker reported sales of $17.70 billion, up 31% year-over-year (up 32% operationally), beating the consensus of $14.95 billion.

The increase was primarily led by growth contributions from Paxlovid and several acquired products, key in-line products, and recent commercial launches.

Excluding contributions from Paxlovid and Comirnaty (COVID-19 products), revenues totaled $13.6 billion, an increase of $1.7 billion, or 14%, operationally.

Third-quarter 2024 Paxlovid revenues of $2.7 billion increased $2.5 billion operationally compared with the prior-year quarter, primarily due to strong demand, particularly in the U.S., driven by ...