Pfizer Raises Profit Forecast After Q2 Earnings Beat

Pfizer (NYSE:PFE) posted better-than-expected second-quarter earnings and revenue and raised its full-year profit outlook, sending shares up over 4% intra-day.

The pharmaceutical giant reported earnings per share of $0.78 for the quarter, ahead of the $0.57 consensus. Revenue rose 10% year-over-year to $14.7 billion, also topping estimates of $13.47 billion.

Chairman and CEO Dr. Albert Bourla said the quarter reflected strong execution, commercial progress, and pipeline advancement. The company cited margin improvement, lower tax rates, and favorable currency moves as drivers of the revised forecast.

Pfizer raised its full-year adjusted EPS guidance to a range of $2.90–$3.10, up $0.10 at the midpoint. The company maintained its full-year revenue forecast of $61.0 billion to $64.0 billion.