"Pfizer Surprises with Strong Earnings, Stock Rises"
TL;DR Summary
Pfizer reported fourth-quarter earnings that beat expectations but saw its stock dip as some key product sales, including the COVID vaccine Comirnaty, fell short. The company faced a rocky year with waning demand for COVID products and setbacks in its pipeline, leading to a drop in revenues. Pfizer aims to start 2024 with a "clean slate" by cutting costs and resetting expectations. The company is making a big bet on antibody-drug conjugates with its recent acquisition of Seagen and stands behind its full-year 2024 guidance, expecting revenues of $58.5 billion to $61.5 billion.
- Pfizer's stock rises as earnings beat expectations MarketWatch
- Pfizer beats earnings estimates as declining Covid business loses less revenue than expected CNBC
- Pfizer posts surprise 4th quarter profit, but key products miss on sales Yahoo Finance
- Pfizer Kicks Off Big Pharma Earnings With a Beat. The Stock Is Rising. Barron's
- Pfizer Earnings Beat Estimates; Drugmaker Reaffirms 2024 Guidance The Wall Street Journal
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