
Pfizer stock soars as earnings smash expectations, and company raises outlook
Pfizer
's stock rose more than 2% in early trading Tuesday after the pharmaceutical giant reported stronger-than-expected earnings and raised its full-year profit forecast because of the cost-cutting efforts and solid sales of its Covid products and other key drugs, as per a CNBC report.
Pfizer's Stock Soars After Raising Profit Forecast
The company now expects adjusted earnings per share for 2025 to come in between $2.90 and $3.10, up from its previous guidance of $2.80 to $3, according to the report. Pfizer also maintained its 2025 revenue forecast of $61 billion to $64 billion, as reported by CNBC.
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Pfizer CFO David Denton said, 'We raised our full-year 2025 Adjusted diluted EPS guidance, demonstrating confidence in our ability to execute against our strategic priorities and deliver strong results for shareholders,' as quoted in the CNBC report.
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How Pfizer Is Handling Political Pressure on Drug Prices
The firm's upbeat outlook comes despite the challenges posed by US political pressure to lower drug prices, including tariffs and potential pricing reforms advocated by US president Donald Trump, as per the CNBC report. The company factored in these headwinds, along with a one-time $1.35 billion charge related to a licensing deal for its cancer treatment outside China, which will hit its third-quarter results, according to the report.
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Pfizer's Q2 Results Surprise Wall Street in a Big Way
Investors were encouraged by Pfizer's second-quarter performance, which blew past Wall Street's expectations, as per the CNBC report. Adjusted earnings per share came in at 78 cents, which was well above the 58 cents analysts predicted, as reported by CNBC. Revenue also surged 10% year-over-year to $14.65 billion, according to the CNBC report.
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Pfizer's Covid Products Lead Revenue Growth
Behind the growth were Pfizer's Covid products, including its Comirnaty vaccine, which saw a 96% revenue increase from last year because of a larger market share and more international contracts, as per the CNBC report. The company's antiviral pill Paxlovid also posted strong sales, which rose 70% from the prior year despite fewer Covid infections worldwide, according to the CNBC report.
Other drugs like Vyndaqel, used to treat heart muscle disease, as well as bladder cancer treatment Padcev and blood thinner Eliquis, contributed to the positive sales momentum, as per the report. However, the company faced headwinds from its breast cancer drug Ibrance, which saw lower US prices due to Medicare reforms and generic competition, according to the CNBC report.
Pfizer's Cost-Cutting Plans to Boost Profits
The second quarter results come after the firm in April increased its cost-cutting efforts, which aim to help the pharmaceutical firm recover from the rapid decline of its Covid business and stock price over the past few years, as per the report. Along with the added cuts announced in April, the company now expects to deliver around $7.7 billion in savings by the end of 2027 from two separate cost-cutting program, as reported by CNBC.
FAQs
What helped Pfizer's revenue grow this quarter?
Mostly its Covid vaccine and antiviral pill, along with strong sales from other drugs like heart and cancer treatments, as per the CNBC report.
What's Pfizer doing to cut costs?
They've ramped up cost-cutting programs and expect to save about $7.7 billion by the end of 2027, as per the CNBC report.
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