Pfizer on Tuesday reported second-quarter results that topped estimates and hiked the low end of its revenue outlook, citing the stronger-than-expected performance of non-Covid products.
The company is now expecting full-year revenue to total $60.5 billion to $62.5 billion, which compares to a previous outlook of $59.5 billion to $62.5 billion. That sales range would still be roughly flat or down slightly compared with 2025 revenue of $62.6 billion.
Pfizer said it cut its full-year revenue expectation for its Covid products – the vaccine and antiviral pill Paxlovid – to $4 billion, down from around $5 billion previously.
The pharmaceutical giant reiterated its full-year adjusted profit outlook of between $2.80 and $3 per share.
Here's what the company reported for the second quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:
- Earnings per share: 77 cents adjusted vs. 68 cents expected
- Revenue: $15.03 billion vs. $14.41 billion expected
The pharmaceutical giant is looking to longer-term investments in its pipeline, including its recent $10 billion acquisition of the obesity biotech Metsera, to counter waning Covid product sales and declines from older drugs. Investors are focused on several crucial data releases from Pfizer this year, including data on a combination regimen that includes its GLP-1 injection and an amylin asset.