Pfizer's First Quarter , Profits Blast Past, 2022 Forecast.
ABC reports that Pfizer's COVID-19 vaccine and treatment sales helped propel the pharmaceuticals company beyond Wall Street's first quarter expectations.
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Pfizer's coronavirus vaccine Comirnaty raked in over $13 billion in sales for the first quarter.
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Pfizer's coronavirus vaccine Comirnaty raked in over $13 billion in sales for the first quarter.
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The vaccine has remained Pfizer's top selling product for almost the last year.
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The drugmaker's pill treatment Paxloid reportedly added an additional $1.5 billion to the company's sales.
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ABC reports that Pfizer's, profits grew 61% , in the first quarter.
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On May 3, the company posted a net income of $7.86 billion and first quarter adjusted earnings of $1.62 per share.
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The results easily exceeded the $1.49 increase predicted by industry analysts.
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Compared to the same time last year, the company's revenue skyrocketed 77% , to reach $25.66 billion.
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According to ABC, the drugmaker expects the company's total revenue in 2022 to reach between $98 billion and $102 billion.
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Pfizer's COVID vaccine launched late in 2020 and quickly became the company's top selling product by the second quarter of 2021.
In December of 2021, Pfizer's stock reached an all-time high of $61.71 per share.
