: Pfizer first-quarter results beat expectations despite COVID-19 vaccine sales plunge

by | May 2, 2023 | Stock Market

Pfizer Inc. PFE‘s first-quarter results beat Wall Street expectations Tuesday, as the pharmaceutical giant tees up new products to help replace plunging sales of its COVID-19 blockbusters.  Amid the expected decline in COVID-19 vaccine revenue, Pfizer reported net income of $5.54 billion, or 97 cents a share, down from $7.86 billion, or $1.37 a share, in the year-earlier period. Adjusted per-share earnings of $1.23, down 24% from a year earlier, beat the FactSet consensus of 98 cents. First-quarter revenue was $18.28 billion,…

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