Covid vaccine gives Pfizer sales and profits a big boost
CNN
Pfizer's sales in the fourth quarter more than doubled, thanks to strong demand for its Covid-19 vaccine. But that wasn't good enough to satisfy investors.
The drugmaker said it posted revenue of $23.8 billion, missing Wall Street's expectations of $24.1 billion. More than half of Pfizer's total sales, $13.9 billion, came from its vaccines unit.
The company also reported net income of $3.4 billion, topping analysts' forecasts. Pfizer said it expects $32 billion in sales this year from Comirnaty, the Covid vaccine. Still, that was below Wall Street's expectations of nearly $34 billion. The company's overall sales and profit guidance for 2022 also missed consensus estimates.
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