Pfizer Beats and Raises, and Shows There's Life After Covid
Third-quarter sales and profit came in well ahead of Wall Street estimates, and the drugmaker lifted its 2026 outlook. The stock barely moved. Here's why, and what investors should watch.
By Clara Hughes
Pfizer reported third-quarter results on Tuesday that beat Wall Street expectations on both revenue and profit, and the company raised its full-year forecast. For a company that spent the last three years trying to show it can grow without its pandemic products, it was one of its better quarters. Revenue came in at $16.58 billion, compared with the $15.87 billion analysts expected, CNBC reported, citing LSEG estimates. Adjusted earnings were 87 cents a share, against expectations of 73 cents. Pfizer raised its 2026 revenue guidance to between $62 billion and $64 billion, up from $60.5 billion to $62.5 billion. It also raised its adjusted earnings guidance to $2.95 to $3.05 a share, from $2.80 to $3.00, according to CNBC. Investors weren't impressed, at least at first. Reuters reported that shares were down nearly 1% at $30.37 by midday. Keep reading with Altas Premium. Below: the drugs that drove the beat, how far Covid sales have fallen, the pipeline delay that weighed on the stock, what CEO Albert Bourla