Pfizer Just Raised Its 2026 Guidance -- but the Boost Leans Heavily on a Drug Running Out the Patent Clock
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Overview
Pfizer (NYSE: PFE) reported its second-quarter results on Aug.4. The company's performance was pretty good. Revenue increased 3% year over year to about $15 billion. That doesn't sound particularly impressive, but the drugmaker has been struggling to grow its sales in recent years. So, this isn't too bad a result for the pharmaceutical giant.
On the bottom line, Pfizer's adjusted earnings per share were $0.77, barely lower than the $0.78 reported in the year-ago period. The company's financial results beat expectations, and on top of that, Pfizer revised its revenue guidance upward for the fiscal year 2026. It now expects revenue between $60.5 billion and $62.5 billion, up from its previous estimate of $59.5 billion to $62.5 billion. However, the market wasn't too impressed.
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Originally published at www.fool.com.