Pfizer Stock Slips Despite Earnings Beat and $2.5 Billion in New Cost Cuts

Earnings
โดย GuruFocus·US·Read original
Summary · why it matters

Pfizer shares edged lower in early trading Tuesday despite reporting better-than-expected quarterly earnings and announcing an additional $2.5 billion in cost reductions. Adjusted earnings came in at $0.77 per share, topping Wall Street estimates by $0.09, while the new cuts raise the company's total savings target through 2029 to $9.7 billion. Revenue from blood thinner Eliquis jumped 21% to $2.43 billion, and cancer therapy Padcev rose 23% to $667 million, helping offset continued declines in the COVID franchise. The company posted a GAAP loss of $0.04 per share after acquisition-related charges and a $3.8 billion write-down tied to an experimental lung cancer drug. Management raised its full-year revenue forecast to between $60.5 billion and $62.5 billion but left adjusted earnings guidance unchanged at $2.80 to $3.00 per share.

Impact on stocks 1

Biotech & Genomic Medicine▲ · 1 stocks
Pfizer Inc
PFE
▲ PositiveCapitalrelevance

Earnings beat and $2.5B cost cuts, though shares slipped.

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