(Pfizer) Pfizer expects lower revenues in FY22 than previously guided, despite reporting an 82% growth in first quarter revenue to $25.7 billion.
Pfizer said that the stronger revenues in the first quarter was contributed by $13.2 billion Covid-19 vaccine sales and $1.5 billion sales of Paxlovid, its oral antiviral treatment.
Following the revenue gains, Pfizer’s net income rose 61% year-over-year to $7.8 billion in the first quarter. Adjusted earnings per share was $1.62, an increase of 72% and above estimates of $1.47 per share.
Pfizer now says it will deliver a revenue of between $98.0 billion to $102.0 billion in FY22. Adjusted EPS in FY22 is expected at between $6.25 to $6.45, lower than previously guided $6.35 to $6.55
Pfizer still maintained its FY22 guidance for sales of Covid-19 vaccine of $32 billion and $22 billion for Paxlovid.
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