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Pfizer revenue and profits soar on its Covid vaccine business
Key Excerpts from Article on Website of CNN News


CNN News, November 2, 2021
Posted: February 27th, 2022
https://www.cnn.com/2021/11/02/business/pfizer-earnings/inde...

Pfizer reported that earnings and sales more than doubled in the past quarter, and it raised its outlook for results the full year, thanks greatly to its Covid-19 vaccine. The company reported adjusted earnings of $7.7 billion, up 133% from a year earlier. Revenue soared to $24.1 billion, up 134%. Both easily cleared results forecast by analysts. The vaccine business alone was responsible for more than 60% of the company's sales, as vaccine revenue rose to $14.6 billion from only $1.7 billion a year earlier. The company said its Covid vaccine sales accounted for $13 billion of that revenue. Revenue outside of its Covid vaccine business was up a far more modest 7%. This year, the Covid vaccine has brought in revenue of $24.3 billion. And Pfizer said it expects a total of $36 billion from the vaccine for all of 2021 – nearly $12 billion more in revenue the final quarter of the year. And it said based on contracts it now has signed it expects revenue $29 billion from the Covid vaccine in 2022. The company said it now expects full-year 2021 revenue of between $81 billion to $82 billion, up $2 billion from its earlier guidance. It also raised its earnings per share outlook by about 3% to 5% above what it had been expected to earn. About 67% of the total US population has had a least one dose of a Covid vaccine, and 58% are fully vaccinated, according to data tracked by the Mayo Clinic.

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