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Investing.com -- Pfizer posted second-quarter earnings and revenue that exceeded analyst estimates and raised its full-year profit outlook, pushing its shares over 3% higher in premarket trading.
The pharmaceutical giant reported Q2 earnings per share (EPS) of $0.78, well ahead of the $0.57 consensus.
Revenue for the period increased by 10% to $14.7 billion, also topping expectations of $13.47 billion.
“Pfizer had another strong quarter of focused execution and we’re pleased with our progress in advancing our R&D pipeline, driving our commercial performance and expanding our margins," said Dr. Albert Bourla, Chairman and CEO of Pfizer.
The company raised its full-year adjusted EPS outlook by $0.10 at the midpoint, now guiding to a range of $2.90 to $3.10, compared to the $3.01 consensus.
Full-year revenue guidance was reaffirmed at $61.0 to $64.0 billion.
Pfizer said the revised profit outlook reflects strong results in the first half of the year, improved cost efficiency, a lower tax rate, and favorable currency moves.
It also factors in a one-time $1.35 billion R&D charge tied to a licensing deal with 3SBio, which is expected to reduce third-quarter EPS by about $0.20.
The company said its guidance already accounts for current tariffs and potential drug pricing actions following a letter from President Trump in late July.
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