5 Stocks Making Notable Moves on Earnings Reports

3. Pfizer Inc. (NYSE:PFE)

Number of Hedge Fund Holders: 67

Shares of Pfizer Inc. (NYSE:PFE) rose more than four percent on Tuesday, 2 November 2021, after delivering impressing profit and sales for the third quarter. The pharmaceutical giant reported adjusted earnings of $1.34 per share, significantly higher than 59 cents per share in the year-ago quarter.

In addition, Pfizer Inc. (NYSE:PFE) posted revenue of $24.094 for the quarter, translating to a surge of more than two folds on a year-over-year basis. The results easily surpassed analysts’ average estimate of $1.08 per share for earnings and $22.576 billion for revenue.

Pfizer Inc. (NYSE:PFE) also raised its financial outlook for 2021. It expects adjusted earnings in the range of $4.13 – $4.18 per share versus its previous guidance of $3.95 – $4.05 per share. Revenue for the full year is expected to come between $81 – $82 billion, compared to its earlier forecast of $78.0 – $80 billion.

Commenting on the quarter, CEO Albert Bourla said:

“While we are proud of our third quarter financial performance, we are even more proud of what these financial results represent in terms of the positive impact we are having on human lives around the world. For example, more than 75% of the revenues we have recorded up through third-quarter 2021 for Comirnaty have come from supplying countries outside the U.S., and we remain on track to achieve our goal of delivering at least two billion doses to low- and middle-income countries by the end of 2022.”