Pfizer beats Q1 earnings and revenue estimates, reaffirms 2026 outlook despite Covid sales decline

Pfizer reported first-quarter earnings and revenue that exceeded analyst expectations, driven by growth in recently launched and acquired products, as well as strong sales of older drugs like Eliquis. The company posted $14.45 billion in revenue, up 5% year-over-year, and adjusted earnings per share of 75 cents versus the expected 72 cents. Despite declines in Covid vaccine and antiviral pill sales, Pfizer reaffirmed its 2026 outlook with expected adjusted profits between $2.80 and $3 per share and revenue of $59.5 billion to $62.5 billion. The company is investing in its pipeline, including a $10 billion acquisition of obesity biotech Metsera, and anticipates key data releases from late-stage trials this year.