Pfizer Q1 2024 Adj EPS $0.82 Beats $0.54 Estimate, Sales $14.90B Beat $14.20B Estimate
Portfolio Pulse from Benzinga Newsdesk
Pfizer reported Q1 2024 adjusted EPS of $0.82, surpassing the $0.54 estimate, with sales of $14.90B also beating the $14.20B estimate. However, this represents an 18.50% decrease in sales compared to the same period last year.
May 01, 2024 | 10:46 am
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Pfizer's Q1 2024 earnings exceeded expectations with an adjusted EPS of $0.82 and sales of $14.90B, surpassing estimates but showing a year-over-year decline in sales.
Pfizer's significant beat on both earnings per share and sales estimates is likely to positively impact investor sentiment in the short term, despite the year-over-year decrease in sales. The substantial outperformance compared to analyst expectations suggests operational efficiency and strong demand for Pfizer's products, which could lead to upward pressure on the stock price. However, the decline in sales year-over-year might temper some of the positive momentum, making it crucial to monitor how the market interprets these mixed signals.
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