Pfizer reported third-quarter adjusted earnings of $0.87 per share, well above the $0.73 analysts expected, on revenue of $16.58 billion, roughly flat year over year but ahead of the $15.87 billion forecast. GAAP net income fell to $3.24 billion, or $0.56 per share, from $3.54 billion a year earlier.
The company raised its 2026 revenue guidance to $62-64 billion from $60.5-62.5 billion and adjusted EPS to $2.95-$3.05 from $2.80-$3.00, a range that absorbs a one-time $650 million charge (about $0.10 per share) tied to the Innovent Biologics licensing deal. Eliquis sales rose 25% to $2.52 billion, Padcev reached $720 million, and newly launched and acquired products brought in $3.8 billion, up 32% operationally. Comirnaty ($808 million) and Paxlovid ($449 million) both beat estimates.
Pfizer targets about $9.7 billion in net cost savings through 2029 and is leaning on acquisitions, new cancer drugs and the Metsera weight-loss deal for growth. Cecile Guegan became CFO this month after Dave Denton left for Nike.