Results
EPS: $1.07 vs $0.97 expected, an earnings surprise of 10.3%, rising 72.6% YoY
Revenue: $18.98 billion vs $18.74 billion expected, rising 92.4% YoY
$7.8 billion from Covid-19 vaccines, with just under half of Pfizer’s total revenue coming from all vaccines
Oncology unit revenue increased19% YoY to $3.1 billion
Hospital unit increased 21% YoY to $2.2 billion in revenue
Internal medicine unit revenue increased 5% YoY to $2.4 billion
Pfizer's business excluding the COVID-19 vaccine has achieved 10% year-over-year operational revenue growth, indicating strength outside of that key area as well, surpassing Q1’s YoY non-Covid-19 vaccine growth of 6%
Guidance
EPS between $3.95-4.05, revised up from $3.55-3.65
Revenue between $78-80 billion, revised up from $70.5-72.5 billion
Vaccine revenue of $33.5 billion, revised up from $26 billion
Due to concerns of Delta variant and expected to gain full approval of it by the FDA by January 2022
Could file for emergency approval for the booster shot with the FDA as early as August this year
Market Reaction
Share price rose 3% to close of the market