Pfizer (NYSE:PFE) released its Q1 earnings and revenue that surpassed analyst expectations. Earnings per share (EPS) reached $0.82, well above the estimated $0.53, while revenue was $14.9 billion, also exceeding the expected $14.04 billion.
Adjusted research and development (R&D) expenses were reported at $2.48 billion, lower than the projected $2.66 billion. On the other hand, adjusted selling, informational, and administrative (SI&A) expenses were slightly above forecasts, totaling $3.45 billion against the expected $3.39 billion.
For the entire year of 2024, Pfizer projects an EPS range of $2.15 to $2.35, compared to the consensus of $2.21. Revenue forecasts are set between $58.5 billion and $61.5 billion, compared to the expected $60 billion.
These projections include anticipated revenues of about $8 billion from Comirnaty and Paxlovid (with $5 billion and $3 billion, respectively) and approximately $3.1 billion from legacy Seagen products.