Pfizer exceeds Q1 earnings expectations despite vaccine sales decline.
Pfizer's Q1 earnings beat estimates with non-GAAP EPS of $1.23 and revenue of $18.3B, driven by strong sales of COVID-19 vaccines Comirnaty and Paxlovid. The company reaffirmed its full-year 2023 financial guidance, with expected revenues of $67.0 billion to $71.0 billion and adjusted diluted EPS of $3.25 to $3.45. Pfizer expects Comirnaty and Paxlovid to generate $7.1 billion in Q1 2023, with Comirnaty revenue expected to reach $13.5 billion and Paxlovid revenue expected to reach $8 billion in full-year 2023.