Pfizer Inc. (NYSE:PFE) reported first-quarter results that came in ahead of Wall Street forecasts, supported by strong momentum in its recently launched and acquired product portfolio.
The drugmaker posted adjusted earnings per share of $0.75, exceeding the analyst consensus of $0.72 by $0.03. Revenue reached $14.5 billion, beating estimates of $13.84 billion and marking a 2% operational increase from $13.7 billion a year earlier. Excluding COVID-19 products Comirnaty and Paxlovid, revenue rose 7% operationally, while the company’s newer product portfolio delivered 22% operational growth year over year.
Shares edged up 0.2% following the release.
“We’re off to a strong start in 2026, and it reinforces our confidence that we will successfully navigate this defining period for Pfizer,” said Dr. Albert Bourla, Chairman and CEO. “Our R&D pipeline is advancing on multiple fronts – with positive Phase 3 readouts and encouraging mid-stage results building meaningful momentum – and I’m particularly encouraged by what we’re seeing in oncology and obesity.”
Growth was driven by several key products, including Padcev, which rose 39% operationally, Eliquis, up 8%, oncology biosimilars, which increased 52%, and Nurtec, up 41%. These gains were partly offset by continued declines in COVID-19-related products, with Comirnaty falling 59% operationally and Paxlovid down 63%.
Pfizer reaffirmed its full-year 2026 outlook, projecting revenue in the range of $59.5 billion to $62.5 billion and adjusted earnings per share between $2.80 and $3.00. The midpoint of the EPS guidance at $2.90 remains slightly below the analyst consensus of $2.96.