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)
Copyright (c) 2024 Dow Jones & Company, Inc.-
Never Mind Market Efficiency: Are the Markets Sensible?
-
Starbucks Stock Could Use a Pick-Me-Up After Big Selloff; Is it a Buy?
-
5 Cheap Stocks to Buy From an Attractive Part of the Market
-
Markets Brief: All Eyes On Inflation
-
5 Things We Learned From the Q1 Earnings Season
-
After Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
What’s Happening In the Markets This Week
-
Can the Fed Declare Victory on Inflation?
-
Going Into Earnings, Is Nvidia Stock a Buy, a Sell, or Fairly Valued?
-
After Earnings, Is Arista Stock a Buy, a Sell, or Fairly Valued?
-
A Cheap Dividend Aristocrat to Buy Before It Bounces Back
-
Alibaba Earnings: More Positive Outlook Despite Mixed Results
-
After Earnings and a 56% Rally In 2024, Is Arm Stock a Buy, a Sell, or Fairly Valued?
-
How Morningstar Rates Stocks
-
After Earnings, Is Disney Stock a Buy, a Sell, or Fairly Valued?
-
Home Depot Earnings: Macro Factors Pinch Demand, but Long-Term Outlook Intact