Categories AlphaGraphs, Earnings, Health Care

Key highlights from Pfizer (PFE) Q2 2020 earnings results

Pfizer Inc. (NYSE:PFE) reported second quarter 2020 earnings results today.

Revenues fell 11% to $11.8 billion. The decline was 9% on an operational basis. The top line number saw an impact of 4% from COVID-19, reflecting disruption to wellness visits for patients in the US as well as lower demand for certain products in China.

On a reported basis, net income fell more than 30% to $3.4 billion, or $0.61 per share. On an adjusted basis, net income dropped 3% to $4.4 billion and EPS declined 2% to $0.78.

The company raised its guidance for fiscal year 2020 and now expects revenues to be $48.6-50.6 billion and adjusted EPS to be $2.85-2.95.

Past Performance

Click here to access the transcript for Pfizer Q2 2020 earnings conference call

Also Read:  Biogen tops market estimates in Q3, lowers guidance

Most Popular

Earnings calendar for the week of Oct. 26

Bringing fresh optimism to the virus-hit market, U.S jobless claims for the week ended October 17 slipped to the lowest level since the onset of the pandemic, in a sign

Southwest Airlines (LUV) expects business travel to remain down well into next year

Shares of Southwest Airlines Co. (NYSE: LUV) were up over 2% in afternoon hours on Friday. The stock has gained 35% over the past three months. The company reported better-than-expected

Big banks have their eyes on second half of 2021

The biggest stimulus package of all time, which was meant to boost consumption has actually led to more deposits, inflating the size of banks’ balance sheets. A working paper shows