Pfizer beats revenue estimates, raises profit outlook on cost cuts and smaller-than-feared drop in Covid drug sales
Publishing timestamp: 2024-05-01 13:22:48
Summary
Pfizer reported first-quarter revenue that beat expectations and hiked its full-year profit outlook, benefiting from cost-cutting, strong non-Covid product sales, and smaller-than-feared drop in sales of its Covid antiviral pill Paxlovid. The company is confident in its business and ability to slash costs, with shares rising more than 4% on the news.
Sentiment: POSITIVE
Tickers: PFE,
Keywords: business, pfizer inc, pharmaceuticals, earnings, biotechnology, breaking news, dividends, united states, health care industry, biotech and pharmaceuticals, spin-offs, earnings reports, business news,
Source: https://www.cnbc.com/2024/05/01/pfizer-pfe-earnings-q1-2024.html