Pfizer Q4 Earnings Surpass Expectations, Non-COVID Growth

Pfizer's fourth-quarter 2024 earnings exceeded Wall Street expectations, driven by strong performance in non-COVID-19 products and strategic acquisitions, despite a significant decline in Comirnaty revenue. The company reported adjusted earnings per share of $0.63, surpassing the consensus estimate of $0.47, with revenues reaching $17.76 billion, above the expected $17.35 billion. Growth was particularly notable in the oncology segment, with a 27% increase attributed to the acquisition of Seagen, and the Vyndaqel family of drugs saw a 61% rise due to increased demand. Cost reduction efforts contributed to a $3.59 billion adjusted net income, and Paxlovid sales reached $727 million. Pfizer has consistently surpassed earnings and revenue estimates over the last four quarters. While the stock has underperformed the market year-to-date, its future movement will depend on earnings expectations and market conditions.