Pfizer Posts Big Q3 Earnings, Raises Outlook

Pfizer, one of the world's largest pharmaceutical companies, surprised many analysts with its third-quarter earnings. The company reported earnings of $1. 06 per share, well above the expected $0. 61. Sales also exceeded expectations, coming in at $17. 7 billion compared to the projected $14. 92 billion. Last year, during the same period, Pfizer recorded a loss of $0. 17 per share and sales of $13. 23 billion. This quarter's results reflect a significant turnaround. The company's messenger RNA (mRNA) Covid-19 vaccine, Comirnaty, contributed to these strong earnings. Looking ahead, Pfizer has raised its outlook for the year. It now predicts adjusted earnings per share of $2. 75 to $2. 95 on revenue of $61 to $64 billion. Analysts had initially projected earnings of $2. 66 per share and sales of $61. 13 billion. In pre-market trading on Tuesday, Pfizer's stock rose by 2. 1%. This indicates that the stock might move above its 50-day moving average. Shares are also forming a flat base, with a potential buy point at $31. 54, according to MarketSurge. While these numbers look promising, it's important to consider the broader context. Pfizer's success isn't just about its vaccines but also its many other products. However, the future will depend on how well the company manages its expenses and how the global health situation evolves.