11/1/2022, 11:48 AM (Source: TeleTrader)
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Chart for: Pfizer Inc

Pfizer posts strong bottom line, EPS in Q3 2022

Pfizer Inc. said on Tuesday that its revenue in the third quarter of 2022 amounted to $22.6 billion, dropping 6% compared to the same period a year earlier; however, the result is better than expected. In that sense, the company's reported net income stood at $8.6 billion, 6% higher than in Q3 2021.

Diluted Earnings per Share (EPS) for the third quarter of 2022 was $1.51, reflecting 6% growth over the third quarter of 2021. Besides, Pfizer also noted that it increased the 2022 financial guidance for revenues and adjusted diluted EPS by approximately $1.7 billion and $0.19, respectively, and on an operational basis.

"I continue to be proud of our colleagues' excellence, ingenuity, and unwavering commitment to bringing breakthroughs to patients. Over the next 18 months, we expect to have up to 19 new products or indications in the market – including the five for which we have already begun co-promotion or commercialization earlier this year," said Dr. Albert Bourla, Chairman and Chief Executive Officer.

Pfizer's shares surged in premarket trading by 3.01% at 6:00 am ET to sell for $47.70.

Baha Breaking News (BBN) / JG