Daily Management Review

Pfizer's first-quarter net profit rises 1.5 times


Net profit of pharmaceutical company Pfizer Inc. attributable to shareholders in the first quarter of 2021 rose almost 1.5 times to $4.877 billion, according to the financial statements of the US corporation.

Lisa Ferdinando
Lisa Ferdinando
Diluted earnings per share for January-March were $0.86 compared to $0.6 a year earlier. The adjusted figure was $0.93 with a forecast of $0.77. Pfizer's revenue for the quarter also rose 1.5 times to $14.582 billion. Analysts had expected revenue of $13.67 billion.

The company also improved its revenue forecast for the current year to $70.572.5 billion, previously the figure was expected to be $59.4-61.4 billion. Adjusted diluted earnings per share in 2021 will be $3.55-3.65, the company forecasts, previously expecting $3.1-3.2.

Pfizer also improved its revenue forecast for the COVID-19 vaccine (BNT162b2) to $26 billion from the previously expected $15 billion.

Pfizer Inc. was founded in the U.S. in 1849 and is now one of the global leaders in the pharmaceutical industry. The company is headquartered in New York and has its main research centre in Groton, Connecticut.

source: bloomberg.com