Pfizer reports fourth quarter profit beat as older drugs offset pandemic decline
Pfizer reported fourth-quarter results that surpassed analyst estimates. Strong demand for established medicines helped the drugmaker navigate falling COVID-related sales.
Insights:
Pfizer Inc. reported fourth-quarter profit and revenue that exceeded Wall Street analysts' estimates. Total sales for the period reached $17.56 billion, which surpassed the $16.95 billion average revenue expectation provided by LSEG. On an adjusted basis, Pfizer Inc.reported a profit of 66 cents per share, which was above the 57 cents per share estimated by analysts for adjusted EPS.
