Pfizer Takes Over 50% Hit In Q2 Sales As COVID-19 Related Revenues Dwindle, Tightens Annual Outlook
Portfolio Pulse from Vandana Singh
Pfizer Inc has reported a Q2 adjusted EPS of $0.67, down 67% Y/Y, but beating the consensus of $0.57. The company reported sales of $12.73 billion, down 54% Y/Y, primarily due to decreased sales from Paxlovid and Comirnaty. Pfizer revises FY23 revenue guidance to $67 billion - $70 billion, versus the consensus of $67.30 billion and prior guidance of $67-$71 billion. PFE shares are down 0.03% at $36.04 on the last check Tuesday.
August 01, 2023 | 3:05 pm
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Pfizer's Q2 earnings and sales have decreased significantly Y/Y, primarily due to decreased sales from Paxlovid and Comirnaty. However, the company beat the EPS consensus. Pfizer has revised its FY23 revenue guidance to $67-$70 billion. PFE shares are slightly down.
Pfizer's Q2 earnings and sales have decreased significantly Y/Y, which is a negative signal for investors. However, the company beat the EPS consensus, which could mitigate the negative impact. The revision of the FY23 revenue guidance could also negatively affect the stock price. The slight decrease in PFE shares indicates that the market has already reacted to the news.
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IMPORTANCE 80
RELEVANCE 100