Pfizer reported revenue of more than $22 billion during quarter three of 2022 on its earnings call Tuesday.
The impressive revenue totals were driven largely by coronavirus-related products, many of which were purchased directly by the United States and other national governments. Quarter three (Q3) continued a string of strong, sometimes record-setting financial performances for the pharmaceutical giant during the COVID-19 pandemic.
The New York-based drug company on Tuesday said it now expects to end the year with revenue in the range of $99.5 billion to $102 billion, as its operations improved despite seeing a hit from a stronger dollar. It had previously forecast revenue of $98 billion to $102 billion.
The raised outlook reflects about $2 billion in higher-than-expected sales this quarter from the Covid-19 vaccine Comirnaty, which Pfizer now expects to generate about $34 billion in revenue for the fiscal year.
However, global sales for the vaccine were down significantly, at $4.4 billion, down from nearly $13 billion a year ago. Wall Street analysts had expected third quarter global vaccine sales of $2.6 billion, according to FactSet.
source dailycaller.com
