Pfizer Inc (NYSE:PFE, ETR:PFE) reported third quarter financial results that topped Wall Street expectations despite a year-over-year drop in earnings and sales, while raising its full-year profit guidance.
The company reported Q3 revenue of $16.7 billion, slightly above analyst estimates of $16.55 billion, representing a 7% decline compared with the same period last year.
Revenue from Pfizer’s non-COVID portfolio grew 4%, driven by strengthened commercial execution.
Pfizer posted adjusted diluted earnings per share (EPS) of $0.87, significantly above analyst expectations of around $0.64, although down from $1.06 in Q3 2024.
For full-year 2025, Pfizer reaffirmed its revenue guidance of $61 billion to $64 billion and raised and narrowed its adjusted EPS guidance to $3 to $3.15, up from the previous range of $2.90 to $3.10.
The company pointed to strong year-to-date performance, ongoing cost savings initiatives, and improvements in its effective tax rate as factors supporting the guidance.
Pfizer also highlighted progress on strategic initiatives, including a landmark agreement with the US government that provides longer-term business clarity and early FTC clearance for its proposed Metsera acquisition, which the company said will enhance its position in the obesity treatment market.
The company is on track to deliver approximately $7.2 billion in net cost savings from previously announced efficiency programs by the end of 2027, supporting productivity gains and operating margin expansion.
Shares of Pfizer edged 0.6% lower to about $24 post-earnings, down more than 7% so far this year.