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5/4, 12:45 PM (Source: TeleTrader)
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Pfizer's revenue jumps 45% to $14.6B in Q1

Pfizer Inc. said on Tuesday that its revenue in the first quarter of 2021 amounted to 14.6$ billion, soaring 45% compared to the same period a year earlier and topping market estimates.

Reported earnings per share (EPS) rallied 44% year on year to $0.86 and adjusted EPS stood at $0.93. Reported net income was $4.9 billion, while adjusted net income came in at $5.3 billion. Pfizer also noted it raised its revenues and EPS guidance for 2021.

"I am extremely proud of the way we have begun 2021, delivering strong financial results in the first quarter. Even excluding the growth provided from BNT162b2 [COVID-19 vaccine], our revenues grew 8% operationally, which aligns with our stated goal of delivering at least a 6% compound annual growth rate through 2025," CEO Albert Bourla Stated.

Pfizer shares climbed 1.03% in premarket trading following the release of better-than-expected results.

Breaking the News / NP