Although it is in the race of developing a vaccine, Pfizer’s stock price fell in the first half of the year
For pharmaceutical giant Pfizer, the past quarter was busy as it is working on developing a COVID-19 vaccine, and the financial results that came in beat the expectations.
The net income fell for Q2 to $3.43 billion, meaning an EPS of 61 cents. During the same time last year, Pfizer had an EPS of 89 cents, and a net income of $5.05 billion.
It lost 11% on revenue, figures coming in at $11.80 billion, but it beat the $11.58 billion consensus.
Pfizer provided guidance for the rest of the year. The EPS was adjusted to $2.85 with a $2.95 high from a previous $2.82 to $2.92. The revenue is expected to reach a high of $50.5 billion downgrading from an initial top of $50.6 billion.
During today’s pre-market session, the stock price gained 3.4%. Since the beginning of 2020, the share price fell 4.2%, while USA30 lost 6.9%.
Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience or current financial situation.
Therefore, Key Way Investments Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance is not a reliable indicator of future results.