Pfizer stock rallied on Tuesday after the pharmaceutical giant reported adjusted earnings of $1.78 per share based on $22.64 billion in third-quarter revenue.
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On average, analysts polled by FactSet Pfizer (PFE) to earn $1.39 per share on revenue of $21.07 billion.
For the year-earlier period, Pfizer’s earnings were $1.27 per share, and the company reported revenue of $24.04 billion.
Pfizer has released guidance for 2022 and now projects adjusted profits from $6.40 to $6.50 per share and $99.5 billion to $102 billion in revenue . Pfizer equity analysts polled by FactSet expect adjusted profit of $6.40 per share and revenue of $99.66 billion.
Pfizer has also announced promising results for a respiratory syncytial virus vaccine in pregnant women. The vaccine has proven 81.8% effective in preventing a respiratory illness called RSV during the first 90 days of an infant’s life when given to the mother during pregnancy. It is 69.4% effective for the first six months of life. This news comes amid a recent increase in RSV cases.
In pre-market trading on stock market todayPfizer stock rose 4% near 48.40.
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Follow Allison Gatlin on Twitter at @IBD_AGatlin.
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