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Pfizer earnings beat expectations as activist investor looms large

Online Niel October 30, 2024

Pfizer on Tuesday posted earnings that easily beat analysts’ expectations in the company’s first quarterly report since an activist investor took a $1 billion stake in the drug giant and began putting pressure on the board and CEO his

Pfizer reported adjusted earnings per share, a key measure tracked by investment bank analysts, of $1.06 per share, compared with expectations of $0.60 per share among analysts polled by Visible Alpha.

Total sales for the quarter were $17.7 billion, compared with expectations of about $16 billion. Pfizer raised guidance for the full year 2024 to between $61 billion and $64 billion, a 4 percent increase on guidance already raised in the third quarter. For the full year, adjusted earnings per share will be between $2.75 and $2.95 per share, the company said.

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