Pfizer reports Q2 earnings; net revenue $5.56 billion

Pfizer Inc. (PFE) on Wednesday reported Q2 net revenue of $5.56 billion and $18.98 billion gross marginally beating estimates. The New York-based company said it had net income of 98 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.07 per share.

Here’s what analysts expected, in line with estimates sourced by Visible Alpha  

  • Earnings: $0.97 per share, adjusted, anticipated 
  • Revenue: $18.7 billion anticipated 

Earnings History 

One of the world’s largest drug companies, Pfizer Inc. (PFE), is ranked 58 by Forbes. Pfizer’s COVID-19 vaccine success has pushed Q1 2021 operating revenue to 42% growth. In the last few months, the company has doled out more than 160 million doses of its COVID-19 vaccine, co-developed with BioNTech S.E. (BNTX).  

In its Q1 2021 earnings, the company registered revenue of $14.6 billion. Pfizer has a total market value of $215.2 billion with annual sales worth $47.6 billion and a profit of $9.6 billion. The pharmaceutical giant has $154.2 billion worth of assets, according to Forbes’ list of 2021 Global 2000 world’s largest companies. The company’s share is worth $42.10 as of July 28 at 6 am, EST. For F.Y. 2021, analysts expect the vaccine to contribute nearly all of the company’s $31 billion increase in sales, helping to boost total company revenue by nearly 75% to $73.2 billion. 

Amid the coronavirus pandemic in 2020, Pfizer CEO Albert Bourla earned $21 million. The 59-year-old Greek official previously earned $17.9 million in 2019. 

Future Plans  

Covid vaccine makers BioNTech and Pfizer announced that they would produce their Covid-19 vaccines in South Africa from 2022. Under the agreement, Cape Town-based Biovac will complete the last step in the manufacturing process of the Pfizer/BioNTech vaccine, known as “fill and finish”, the companies said in a statement. 

If all goes well, Pfizer will roll out its vaccine in India, which is one of the world’s largest markets. Meanwhile, the US FDA has approved the emergency use of COVID-19 vaccines among adolescents under 18 years of age.  

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