7/28, 12:46 PM (Source: TeleTrader)
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Chart for: Pfizer Inc

Pfizer Q2 revenue soars 92% to $19 billion

American pharmaceutical company Pfizer Inc. announced on Wednesday its revenue in the second quarter of 2021 surged 92% on the year to $19 billion, exceeding analyst expectations. Earnings per share in the three-month period jumped 58% to $0.98 on net income of $5.6 billion, Pfizer said.

The drugmaker also raised its full-year guidance and now expects revenues generated by its coronavirus vaccine to increase to $33.5 billion in 2021. "Looking forward, we remain highly confident in our ability to achieve at least a 6% compound annual growth rate through 2025 and intend to build upon our recent successes by continuing to follow the science, trust in our people and remain focused on delivering breakthroughs for the patients we serve," Chairman and Chief Executive Officer Albert Bourla said of the company's performance this past quarter.

Pfizer was up 0.71% to $42.40 per share in premarket trading following the update. The company's shares are up over 14% since the beginning of the year.

Baha Breaking the News (BBN) / JC