Pfizer beats estimates and raises low end of revenue outlook

Pfizer reported secondquarter results that came in above Wall Street expectations and raised the lower end of its fullyear revenue guidance on Tuesday, helped by stronger sales of nonCovid medicines. The company now expects 2026 revenue of $60.5 billion to $62.5 billion, up from a prior range of $59.5 billion to $62.5 billion. Pfizer lowered its forecast for Covidrelated products to $4 billion from about $5 billion, citing weak infection levels and the timing of vaccine demand. The drugmaker also kept its adjusted fullyear profit outlook at $2.80 to $3 per share and announced additional cost savings from two separate programs, with benefits expected from 2027 through 2029. For the quarter, Pfizer reported adjusted earnings of 77 cents per share on revenue of $15.03 billion, both ahead of analyst estimates. Sales of Eliquis and other key products helped offset continued pressure in the Covid business, while the company also recorded a net loss tied to impairment charges and revised assumptions for some pipeline assets.