Pfizer reported a 44% decline in profits, yet the results still surpassed Wall Street estimates, primarily due to cost reductions and robust sales of its pneumonia and respiratory syncytial virus (RSV) vaccines. Despite the profit drop, attributed to decreased sales of COVID-19 related products, the pharmaceutical giant has raised its full-year profit outlook. This positive financial news led to a rebound in Pfizer's stock, which had previously hit a decade low.
Pfizer’s first-quarter results top estimates, while drugmaker boosts full-year profit outlook https://t.co/Ihp4CjnBor
NEW 🚨 Pfizer profits drop on lower Covid-19 product sales https://t.co/aemDH3XlbC
Pfizer profits drop on lower Covid-19 product sales https://t.co/0SZ4gUS47m
Pfizer $PFE stock climbs as first quarter earnings, revenue come ahead of estimates https://t.co/JPqL67i80s https://t.co/xWViWh3fbg
#Pfizer lifts profit view on cost cuts, smaller drop in demand for #COVID products https://t.co/5v1pViuI8c
Pfizer’s 44% Decline In Profits Still Tops Estimates—Stock Bounces From Decade Low https://t.co/6rU8j8dyE6 https://t.co/kFNlaJBF9f
⚠️ PFIZER BEATS PROFIT ESTIMATES ON COST CUTS, RSV VACCINE SALES Full Story → https://t.co/IPLwm458Ta Pfizer beat first-quarter profit estimates on Wednesday, benefiting from cost cuts and strong sales for its pneumonia and respiratory synctitial virus vaccines. https://t.co/DbK0DqoGah