|Delayed - 05/14 04:10:00 pm|
Pfizer Raises Full-Year Profit Guidance, Expects Higher Covid-19 Vaccine Sales
|05/04/2021 | 07:21am|
By Matt Grossman
Pfizer Inc. on Tuesday raised its full-year revenue and earnings guidance, citing a higher estimate of sales of its Covid-19 vaccine.
Pfizer now expects full-year revenue of $70.5 billion to $72.5 billion, compared with previous guidance for revenue of $59.4 billion to $61.4 billion.
The company forecast a full-year adjusted profit of $3.55 a share to $3.65 a share. It had previously said it expected an adjusted profit of $3.10 a share to $3.20 a share.
Pfizer expects its Covid-19 vaccine developed with BioNTech SE to generate revenue of about $26 billion in the year. It had previously guided for revenue of about $15 billion from the shot.
Write to Matt Grossman at email@example.com
(END) Dow Jones Newswires