Pfizer reported first-quarter earnings and revenue that exceeded Wall Street expectations, driven by growth in its recently launched and acquired products, as well as continued demand for older top-selling drugs like Eliquis. The company posted adjusted earnings per share of 75 cents, surpassing the expected 72 cents, and revenue of $14.45 billion, above the anticipated $13.79 billion. This represents a 5% increase in revenue compared to the same period a year ago. Net income for the quarter was $2.69 billion, or 47 cents per share, compared to $2.97 billion, or 52 cents per share, in the prior year period [1].
The growth in new products helped offset a decline in revenue from Pfizer's Covid vaccine and its antiviral pill, Paxlovid. The company expects sales of these Covid-related products to fall by about $1.5 billion year over year to $5 billion. Additionally, Pfizer anticipates another $1.5 billion year-over-year drop in sales due to certain products losing market exclusivity, with blockbuster drugs like Prevnar facing increased competition [1].
Looking ahead, Pfizer reaffirmed its 2026 outlook, projecting adjusted profit between $2.80 and $3 per share and revenue in the range of $59.5 billion to $62.5 billion. This sales range is expected to be roughly flat or slightly down compared to the 2025 revenue of $62.6 billion. The company is also focusing on long-term investments in its pipeline, including the recent $10 billion acquisition of obesity biotech Metsera, and is anticipating key data releases this year, such as late-stage trial results for an experimental targeted lung cancer drug [1].
CONCLUSION
Pfizer's first-quarter results exceeded analyst expectations, supported by growth in new and existing products despite ongoing declines in Covid-related sales. The company reaffirmed its 2026 outlook and highlighted strategic investments and upcoming data releases as key to its future performance.