Pfizer Inc. Reports Second-Quarter Earnings Exceeding Expectations
Pfizer Inc. has announced its second-quarter earnings, with revenue increasing by 10% to $14.7 billion. This growth is attributed to strong demand and cost-cutting measures implemented by the company.
Key highlights of the earnings report include:
- Revenue: $14.7 billion, a 10% increase from the previous year
- Adjusted profit guidance: Raised for the full year, citing a weaker US dollar and cost savings
The company’s stock price rose by approximately 5% in early trading, following the release of the earnings report. Pfizer’s CEO, Albert Bourla, attributed the success to a combination of factors, including:
- Strong business performance
- Cost reductions
The company’s performance is expected to be positively impacted by a weaker US dollar and cost savings, despite potential price pressures from the US government.