Pfizer Reports Q3 2024 Earnings: $17.7B Revenue, Adjusted EPS of $1.06, Raises Guidance; Net Profit Up 6.3%

Oct 29, 2024, 11:09 AM

Pfizer Inc. reported strong third-quarter earnings for 2024, with revenues of $17.7 billion, exceeding analyst estimates of $15.2 billion and marking a 31% year-over-year increase. The company also reported adjusted earnings per share (EPS) of $1.06, significantly higher than the expected $0.64. Following these results, Pfizer raised its full-year guidance, now anticipating adjusted EPS in the range of $2.75 to $2.95, up from a previous estimate of $2.45 to $2.65. Revenue guidance was also increased to between $61.0 billion and $64.0 billion, compared to the prior range of $59.5 billion to $62.5 billion. The strong performance was attributed to robust sales from its Covid-related products, contributing approximately $5 billion from its vaccine and $5.5 billion from Paxlovid. The company's market capitalization stands at $163.54 billion.