clearn.png
Sunday May 16th, 2021 9:50PM

Pfizer ups expectations for the year

By The Associated Press
Related Articles
  Contact Editor

Pfizer is raising its revenue expectations for the year with a huge roll out of its COVID-19 vaccine as well as strong performances from other parts of its business.

The company reported first-quarter earnings of $4.88 billion, or 86 cents per share. Per-share earnings were 93 cents if one-time costs or gains are removed. That far above the 79 cents Wall Street was looking for, according to a survey by Zacks Investment Research.

Revenue was $14.58 billion, also easily exceeding forecasts of $13.49 billion from industry analysts.

Pfizer expects full-year earnings in the range of $3.55 to $3.65 per share, with revenue in the range of $70.5 billion to $72.5 billion.

The New York company is manufacturing hundreds of millions of doses of the COVID-19 shot and pushing forward on research gauging its effectiveness in different patient groups, such as teens and people with compromised immune systems.

Pfizer has said that this year it can produce 2 billion doses of the vaccine, developed with its German partner BioNTech, including 200 million doses promised for the U.S. by the end of May.

_____

Portions of this story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PFE at https://www.zacks.com/ap/PFE

  • Associated Categories: Associated Press (AP), AP Business, AP Business - Corporate News, AP Business - Industries, AP Business - Health Care
© Copyright 2021 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Pfizer ups expectations for the year
Pfizer is raising its revenue expectations for the year with a huge roll out of its COVID-19 vaccine as well as strong performances from other parts of its business
7:13AM ( 3 minutes ago )
CVS ups outlook after a slow start to the year
CVS Health beat Wall Street expectations and after releasing projections earlier this year that disappointed analysts, a new outlook Tuesday exceeds those levels
7:02AM ( 13 minutes ago )
UEFA details Euro 2020 rules for teams hit by virus issues
Teams hit by COVID-19 cases or mandatory quarantine at the European Championship can have games postponed for up to 48 hours to get new players in
6:50AM ( 25 minutes ago )
Associated Press (AP)
G7 foreign ministers meet face-to-face after pandemic pause
Foreign ministers from the Group of Seven wealthy industrialized nations are gathering in London to grapple with threats to health, prosperity and democracy
4:29AM ( 2 hours ago )
The Latest: Kuwait to bar unvaccinated from traveling abroad
Kuwait’s government is barring unvaccinated residents from traveling abroad starting later this month, the latest attempt to tame the spiraling coronavirus outbreak in the Gulf Arab sheikhdom
3:58AM ( 3 hours ago )
Mexico City metro overpass collapses onto road; 20 dead
Mexico City officials say an elevated section of the city's metro collapsed and at least 20 people have been killed
3:15AM ( 4 hours ago )
AP Business
The Latest: Alabama gov says pandemic "absolutely" managed
Declaring the COVID-19 pandemic “absolutely” managed despite lagging vaccinations, Alabama Gov. Kay Ivey says she will end a state health order meant to guard against the spread of an illness that has killed nearly 11,000 people statewide
5:38PM ( 13 hours ago )
McConnell says GOP open to $600 billion for infrastructure
The top Republican in the Senate is opening the door to backing a smaller infrastructure bill
4:33PM ( 14 hours ago )
Intel: $3.5B investment is critical to microchip future
Intel will be investing $3.5 billion in its New Mexico plant to manufacture what executives say will fuel a new era of advanced computing as demands increase for the tiny microchips used in nearly all modern devices
4:25PM ( 14 hours ago )
AP Business - Corporate News
The Latest: NKorea warns people to brace for virus struggle
Isolated North Korea is warning its people to brace for a prolonged struggle against the coronavirus, claiming that broadening outbreaks and muddled immunization programs in other countries show vaccines aren’t the ultimate solution
10:22PM ( 8 hours ago )
The Latest: Washington state to have vaccination sections
More people will be allowed at indoor and outdoor spectator events and indoor religious services if there are designated COVID-19 vaccination sections, under new guidance issued by Washington Gov. Jay Inslee
9:24PM ( 9 hours ago )
FDA expected to OK Pfizer vaccine for teens within week
The U.S. Food and Drug Administration is expected to authorize Pfizer’s COVID-19 vaccine for kids ages 12 to 15 by next week, setting up shots for many before the beginning of the next school year
7:50PM ( 11 hours ago )
AP Business - Industries
Wall Street opening higher Monday on strong earnings
Stocks are rising on Wall Street early Monday, following markets in Europe higher on the back of strong gains by blue chip companies including Mohawk Industries, The Gap and Halliburton
9:47AM ( 21 hours ago )
Russia turns to China to make Sputnik shots to meet demand
Russia is turning to multiple Chinese firms to manufacture the Sputnik V coronavirus vaccine in an effort to speed up production as demand soars
9:04AM ( 22 hours ago )
UN program inks Moderna deal on 500M doses, starting in Q4
Moderna and vaccine promoter Gavi have announced a deal by which the pharmaceutical company will provide up to 500 million coronavirus vaccines doses for the U.N.-backed program to ship to needy people in low- and middle-income countries by the end of 2022
8:36AM ( 22 hours ago )
AP Business - Health Care
CVS ups outlook after a slow start to the year
CVS Health beat Wall Street expectations and after releasing projections earlier this year that disappointed analysts, a new outlook Tuesday exceeds those levels
7:02AM ( 14 minutes ago )
UEFA details Euro 2020 rules for teams hit by virus issues
Teams hit by COVID-19 cases or mandatory quarantine at the European Championship can have games postponed for up to 48 hours to get new players in
6:50AM ( 25 minutes ago )
Mexico City metro overpass collapses onto road; 23 dead
Mexico City officials say an elevated section of the city's metro collapsed and at least 23 people have been killed
6:33AM ( 42 minutes ago )
Storms spawn twisters in Mississippi, kill 2 in Georgia
Much of the South is again at risk of severe weather Tuesday, forecasters say, after tornadoes struck parts of the region Sunday night and Monday, causing heavy damage in some parts of Mississippi
6:25AM ( 51 minutes ago )
G7 foreign ministers meet face-to-face after pandemic pause
Foreign ministers from the Group of Seven wealthy industrialized nations are gathering in London to grapple with threats to health, prosperity and democracy
5:37AM ( 1 hour ago )