Pfizer Inc (NYSE:PFE) is scheduled to report earnings on October 31 before the opening bell, but if past results are any indication, the pharmaceutical giant’s earnings won’t be spooky.
The Street consensus for Pfizer is a loss of $0.32 per share on revenue of $12.72 billion, compared to earnings of $1.51 per share on revenue of $22.64 billion a year earlier.
Despite the year-over-year decline, investors can take some solace in the fact that Pfier has beaten its earnings expectations in each of the last four quarters.
However, looking at the full year, analysts on average have reduced their revenue expectations from $66 billion to $59 billion, according to Simply Wall St.
Pfizer has been faced with declining revenues from its Covid-19 vaccine, as well as its antiviral medication Paxlovid.
Last week, the company said it would more than double the US price of its Covid-19 antiviral medication Paxlovid to US$1,390 for a five-day course.
Shares of Pfizer closed up 1.5% at US$30.55 on Monday.
- Updated with stock price movement -
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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