Pfizer Inc (NYSE:PFE)'s shares remained unmoved as its fourth-quarter result beat the Street by showing a surprise profit.
For the three months ended December 31, the drugs giant reported earnings per share of 10 cents, against an expected loss of 22 cents, and revenue of $14.25 billion, slightly below the $14.42 billion anticipated.
The company's full-year guidance remains unchanged, with a projected revenue between $58.5 billion and $61.5 billion, including $8 billion from Covid products.
Within the numbers, the pharmaceutical group posted a lower-than-expected revenue decline from its Covid business. Its vaccine generated $5.36 billion in revenue, surpassing analysts' forecasts but marking a 53% drop from the previous year.
In late morning trading, the stock was treading water at $27.37.