Pfizer Inc (NYSE:PFE, XETRA:PFE) beat Wall Street expectations for its second-quarter 2026 results and raised the midpoint of its full-year revenue guidance, as growth from launched and acquired products helped offset declines in its COVID-19 portfolio.
The pharmaceutical company reported adjusted earnings of $0.77 per share for the quarter, above the $0.68 expected by analysts. Revenue came in at $15.03 billion, compared with the $14.40 billion consensus estimate.
Pfizer reported quarterly revenue of $15.0 billion, up 1% on an operational basis from a year earlier. Excluding Comirnaty and Paxlovid, revenue increased 5% operationally, while revenue from launched and acquired products rose 18% operationally.
The company reported a GAAP loss of $0.04 per share, reflecting $4.3 billion in non-cash intangible asset impairments.
Pfizer raised its 2026 revenue guidance by $500 million at the midpoint to a range of $60.5 billion to $62.5 billion. The company reaffirmed its adjusted diluted earnings guidance of $2.80 to $3.00 per share, which includes an approximately $0.10 impact from its transaction with Innovent Biologics.
Pfizer also announced additional anticipated productivity savings of $2.5 billion associated with ongoing initiatives, with the savings expected to be realized from 2027 through 2029.
“Pfizer had another strong quarter, delivering on our financial commitments and advancing our strategy,” Pfizer CEO Albert Bourla said in a statement.
“Our launched and acquired products performed well, our obesity program is advancing with meaningful momentum and our oncology portfolio remains a source of strength.”
Incoming Interim CFO Cecile Guegan added that the second-quarter results reflected “solid commercial performance globally” and continued focus on operational efficiency, highlighting the 18% operational revenue growth from launched and acquired products.
Shares of Pfizer were little changed at about $25 post-earnings.