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Pfizer 1Q Profit Rises as Covid-19 Vaccine Fuels Higher Revenue

05/04/2021 | 07:22am EDT

By Matt Grossman

Pfizer Inc. on Tuesday logged larger first-quarter revenue and profit figures, growth driven in part by a $3.5 billion sales contribution from the company's Covid-19 vaccine.

The New York-based pharmaceutical company reported earnings of 86 cents a share, up from 60 cents a share a year earlier. Its total net income climbed to $4.88 billion, from $3.36 billion.

Stripping out one-time items, Pfizer's adjusted profit was 93 cents a share. Analysts surveyed by FactSet had forecast an adjusted profit of 77 cents a share.

Pfizer's revenue improved to $14.58 billion from $10.08 billion, it said. Analysts had expected revenue of $13.54 billion.

The Covid-19 vaccine Pfizer developed with BioNTech SE lifted Pfizer's total first-quarter vaccine revenue to $4.89 billion. Revenue from the oncology, internal-medicine, hospital and rare-diseases segments also all grew by double-digit percentages, while inflammation and immunology sales rose by 9%, Pfizer said.

Pfizer drugs including Eliquis, Vyndaqel, Xeljanz, Xtandi and Inlyta all enjoyed higher sales in the quarter, while sales declined for Prevnar, Ibrance and Chantix, it said.

The company also benefited from a calendar shift that added more selling days to the first quarter compared with 2020, Pfizer said.

Write to Matt Grossman at matt.grossman@wsj.com

(END) Dow Jones Newswires

05-04-21 0721ET

Stocks mentioned in the article
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PFIZER, INC. -0.20% 40.02 Delayed Quote.8.94%
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Financials (USD)
Sales 2021 71 370 M - -
Net income 2021 17 466 M - -
Net Debt 2021 28 048 M - -
P/E ratio 2021 14,0x
Yield 2021 3,94%
Capitalization 224 B 224 B -
EV / Sales 2021 3,53x
EV / Sales 2022 4,09x
Nbr of Employees 78 500
Free-Float 59,2%
Duration : Period :
Pfizer, Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends PFIZER, INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 24
Average target price 42,10 $
Last Close Price 40,02 $
Spread / Highest target 32,4%
Spread / Average Target 5,19%
Spread / Lowest Target -10,0%
EPS Revisions
Managers and Directors
Albert Bourla Chairman, Chief Executive & Operating Officer
Frank A. D'Amelio Chief Financial Officer & EVP-Global Supply
Mikael Dolsten Chief Scientific Officer & Research President
Lidia L. Fonseca Executive VP, Chief Digital & Technology Officer
Aida Habtezion Chief Medical Officer
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