Categories AlphaGraphs, Earnings, Health Care

Pfizer (PFE) posts mixed results in Q3

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.

Pfizer Q3 2020 earnings

Looking forward to listening to management/ analyst comments on Q3 results? Stay tuned here for Pfizer Q3 2020 earnings call transcript

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.

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