On Wednesday, Pfizer said it has sold a total $7.8 billion Covid shots in the second quarter. The financial results have beaten Wall Street expectations on earnings and revenue. Here’s how Pfizer did compared with what Wall Street expected, according to average estimates compiled by Refinitiv:
- Adjusted earnings per share: $1.07 per share vs. 97 cents per share expected
- Revenue: $18.98 billion vs. $18.74 billion forecast
In a statement, Pfizer CEO Albert Bourla said “The second quarter was remarkable in a number of ways. Most visibly, the speed and efficiency of our efforts with BioNTech to help vaccinate the world against COVID-19 have been unprecedented, with now more than a billion doses of BNT162b2 having been delivered globally”.
The company now expects full-year earnings in the range of $3.95 to $4.05 per share. That’s up from its prior range of $3.55 to $3.65 per share. It expects revenue in the range of $78 billion to $80 billion, up from its previous estimate of $70.5 billion to $72.5 billion.
Pfizer’s other business units have been seeing strong sales growth as well. Revenue from its oncology unit rose 19 per cent year over year to $3.1 billion, the hospital generated $2.2 billion, and its internal medicine unit grew 5 per cent to $2.4 billion.