Pfizer tops estimates, hikes low end of revenue guidance on strength of Eliquis, other drugs

Pfizer on Tuesday reported second-quarter results that topped estimates and hiked the low end of its revenue outlook, citing an expected $1.5 billion bump in sales from its non-Covid products.

The company is now expecting full-year revenue to total $60.5 billion to $62.5 billion, which compares with a previous outlook of $59.5 billion to $62.5 billion. That sales range would still be roughly flat or down slightly compared with 2025 revenue of $62.6 billion.

Pfizer said it cut its full-year revenue expectation for its Covid products – the vaccine Comirnaty and antiviral pill Paxlovid – to $4 billion, down from around $5 billion previously.

"Low COVID-19 incidence could continue to limit Paxlovid utilization," Pfizer's incoming interim CFO, Cecile Guegan, said during the company's second-quarter earnings call. "Our plan also assumes the majority of Comirnaty sales will occur toward year-end, consistent with the vaccination season."

The pharmaceutical giant reiterated its full-year adjusted profit outlook of between $2.80 and $3 per share.

Pfizer also announced additional savings of $2.5 billion from two separate cost-cutting programs, which will be achieved starting in 2027 and through 2029.

"With our strong performance through the first half of the year and our ongoing productivity enhancement discipline, we remain confident in our business," Pfizer CEO Albert Bourla said on the call.

Here's what the company reported for the second quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG: