Health

Pfizer Beats Third Quarter Estimates As COVID Vaccine Sales Drive Revenue

Adjusted earnings were $ 1.34 per share, up 129% year-over-year, beating earnings forecast of $ 1.08 per share on approximately $ 22.6 billion in sales from analysts surveyed by FactSet.

The rise comes despite U.S. COVID vaccine sales plummeting from more than $ 2 billion in the second quarter to less than $ 1.6 billion in the third quarter. This trend could be reversed now that the federal government has approved a third dose for certain vulnerable populations and a lower dose for children aged 5 to 11. The US Centers for Disease Control and Prevention will vote today to use and deploy it for this age. -group.

The US government has already purchased 115 million doses of Pfizer for children, the only vaccine approved for emergency use in this age group.

Pfizer currently expects annual revenues of $ 81 billion to $ 82 billion and adjusted earnings of $ 4.13 to $ 4.18 per share.

As a result of trading on the premarket, the company’s shares rose by 3%.

This story first appeared in our sister publication Crain’s New York Business.


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