Pfizer Inc. (NYSE: PFE) reported second quarter 2023 earnings results today.
Revenues decreased 54% year-over-year to $12.7 billion.
Reported net income declined 77% to $2.3 billion, or $0.41 per share, compared to last year. Adjusted EPS fell 67% to $0.67.
While earnings beat expectations, revenue fell short of estimates.
For the full year of 2023, revenues are expected to range between $67-70 billion while adjusted EPS is estimated to range between $3.25-3.45.
The stock dropped 1% in premarket hours on Tuesday following the report.