Pfizer Earnings Beat Views, Guidance Raised On Coronavirus Vaccine

Pfizer stock edged lower early Wednesday after the pharmaceutical giant reported adjusted income of $1.07 per share on $19 billion in second-quarter sales.




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On average, analysts polled by FactSet expected Pfizer (PFE) to earn 97 cents a share and report $18.71 billion in sales.

In the year-earlier period, Pfizer earned 78 cents per share and reported $11.8 billion in sales.

The $19 billion in sales includes some $7.9 billion related to its coronavirus vaccine with BioNTech (BNTX).

For the year, Pfizer guided to adjusted EPS of $3.95-$4.05 with revenue of $78 billion to $80 billion. That’s largely due to the Covid vaccine. Pfizer now sees coronavirus vaccine revenue of $33.5 billion vs. its old target of $26 billion.

Analysts expected $3.71 earnings per share and $72.53 billion in sales.

In premarket trading on the stock market today, Pfizer stock dipped 0.2% to 42.01. Shares recently overtook a buy point at 41.19 out of a cup-with-handle base, according to MarketSmith.com.

More to follow.

Follow Allison Gatlin on Twitter at @IBD_AGatlin.

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