Pfizer (PFE.US) stock price rose sharply before the opening bell after the pharmaceutical company posted upbeat quarterly results. In the third quarter Pfizer earned $1.34 per share, well above analysts' estimates of $1.09 per share. Revenue also topped market expectations. Group sales for the third-quarter sales were 130% higher than a year earlier at $24.1 billion, while Wall Street expected $22.58 billion in revenue helped by soaring international sales of its Covid-19 vaccine.
The company also issued an improved full-year guidance on strong demand for both its Covid-19 vaccine and non-Covid treatments. The drugmaker now expects 2021 adjusted earnings of $4.13 to $4.18 per share on revenue ranging from $81 billion to $82 billion. Meanwhile for 2021, analysts expect earnings of $4.04 per share on $78.77 billion in revenue. Company now expects to book about $36 billion in sales from the vaccine this year.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile app
Pfizer (PFE.US) stock rose 4% in pre-market and is currently testing 38.2% Fibonacci retracement of the last downward wave. Source: xStation5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
