Pfizer tops 4Q expectations, starts low with 2023 forecast
COVID-19 vaccine booster shots and treatments for the virus helped push Pfizer to a better-than-expected final quarter of 2022. The…
COVID-19 vaccine booster shots and treatments for the virus helped push Pfizer to a better-than-expected final quarter of 2022.
The drugmaker also debuted on Tuesday a 2023 forecast that starts off well below Wall Street forecasts.
In the recently completed fourth quarter, Pfizer booked nearly half of its $24.29 billion in revenue from its top-selling COVID-19 vaccine Comirnaty and another $1.8 billion from the treatment Paxlovid.
Overall, the drugmaker posted adjusted earnings of $1.14 per share.
Analysts forecast fourth-quarter earnings of $1.05 per share on $24.38 billion in revenue, according to FactSet.
For the new year, Pfizer expects adjusted earnings to range between $3.25 and $3.45 per share.
Analysts expect earnings of $4.34 per share for 2023, according to FactSet.
Shares of New York-based Pfizer Inc. started to tumble in early-morning trading.
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