Q3 results give Pfizer a boost

Pfizer posted their third-quarter financial results before the opening bell on Tuesday. The pharmaceutical giant beat Wall Street estimates.

Pfizer reported total revenue of $24.10 billion in Q3 vs. $21.09 billion expected. Earnings per share at $1.34 a share vs. $1.03 a share estimate.

Dr. Albert Bourla, Chairman and Chief Executive Officer, commented on the latest financial results: ”While we are proud of our third quarter financial performance, we are even more proud of what these financial results represent in terms of the positive impact we are having on human lives around the world. For example, more than 75% of the revenues we have recorded up through third-quarter 2021 for Comirnaty* have come from supplying countries outside the U.S., and we remain on track to achieve our goal of delivering at least two billion doses to low- and middle-income countries by the end of 2022 — at least one billion to be delivered this year and one billion next year, with the possibility to increase those deliveries if more orders are placed by these countries for 2022. One billion of these doses will be supplied to the U.S. government at a not-for-profit price to be donated to the world’s poorest nations at no charge to those countries. Despite all we have been able to accomplish to date, we remain focused on our future, not our past.”

”Our ultimate goal is to help bring this pandemic to an end as quickly as possible, but also to apply the lessons we have learned through our work on the vaccine to all of our therapeutic areas. We look forward to providing future updates on these efforts,” he added.

*Pfizer, BioNTech vaccine

Pfizer Inc. Chart (1Y)

Shares of Pfizer are trading higher following the latest earnings beat, up by around 4% during the trading day on Tuesday. The stock is up by over 26% in the past year at $45.81 per share.

Pfizer is the 37^th largest company in the world and 3^rd largest pharmaceutical company, with a total market cap of $257.76 billion.

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Sources: Pfizer, Visible Alpha, TradingView