Pfizer raises 2021 outlook after strong Q2 revenue, profit

Pfizer posted better than expected profits and revenues for the second quarter and raised its outlook for the year on the strong performance, including sales of its COVID-19 vaccine.

The company now anticipates revenue from that vaccine this year to reach $33.5 billion for 2.1 billion doses.

Pfizer Inc. reported second-quarter net income of $5.56 billion Wednesday, or 98 cents per share, or $1.07 per share when one-time gains and losses are removed. That far exceeds the per-share earnings of 97 cents that Wall Street had expected, according to a survey by Zacks Investment Research.

The drugmaker posted revenue of $18.98 billion, also better than expected.

Pfizer expects full-year earnings in the range of $3.95 to $4.05 per share, with revenue in the range of $78 billion to $80 billion.

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A portion of this story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PFE at https://www.zacks.com/ap/PFE