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Investing.com -- Pfizer Inc. reported fourth-quarter earnings and revenue that topped analyst estimates, driven by strong sales of its non-COVID products.
Pfizer (NYSE:PFE) posted adjusted earnings per share of $0.63 for Q4, exceeding the analyst consensus of $0.48. Revenue came in at $17.8 billion, above expectations of $17.28 billion.
Excluding contributions from COVID-19 products Paxlovid and Comirnaty, Q4 revenues grew 11% operationally year-over-year to $13.7 billion. This growth was fueled by strong performances from the Vyndaqel family, Eliquis, and newly acquired Seagen products.
"2024 was a strong year of execution and performance for Pfizer in which we met or exceeded our strategic and financial commitments," said CEO Albert Bourla. He highlighted 12% operational revenue growth for non-COVID products in 2024.
For 2025, Pfizer said it expects $2.80-$3.00 in adjusted EPS and revenue between $61-64 billion.
The company’s shares rose 2% following the earnings release, indicating a mildly positive investor reaction to the results and outlook.
CFO David Denton noted Pfizer remains on track to deliver $4.5 billion in net cost savings by the end of 2025 from its ongoing realignment program.