Pfizer Inc (NYSE: PFE) reported third-quarter 2020 financial results before the opening bell on Tuesday. The pharmaceutical giant reported a 4% decline in Q3 revenues to $12.1 billion, which fell short of the Wall Street consensus. Earnings of $0.72 per share were, meanwhile a cent higher than what analysts had anticipated.
PFE shares fell 0.2% immediately following the announcement. The stock has fallen 2.5% since the beginning of this year.
CFO Frank D’Amelio said, “In the first nine months of the year, our Biopharma business grew 7% operationally, despite a COVID-19-related negative impact of approximately 2%, driven by the strong performance of many of our key brands. This performance adds to our confidence in our ability to achieve our expectation of at least a 6% compound annual revenue growth rate through 2025 for New Pfizer.”
Meanwhile, shares of Merck & Co., Inc. (NYSE: MRK) gained 1.65% after reporting Q3 earnings and sales that topped street targets.
Prior performance
Most Popular
AAPL Earnings: Apple’s Q2 sales and profit beat estimates; iPhone sales down 10%
Apple Inc. (NASDAQ: AAPL) on Thursday reported better-than-expected profit and revenue for the second quarter of 2024. There was a 10% decrease in iPhone sales. The gadget giant reported revenues
Shopify (SHOP) is all set to report Q1 2024 results. Here’s what to expect
Over the years, Shopify Inc. (NYSE: SHOP) has steadily expanded its footprint in the online retail market through constant innovation, like the recent launch of a mobile POS device for
eBay (EBAY): A look at how the ecommerce company fared in Q1 2024
Shares of eBay Inc. (NASDAQ: EBAY) were down over 2% on Thursday. The company reported its earnings results for the first quarter of 2024 a day ago, with revenue and
