Sales of Pfizer's COVID-19 vaccine and treatment in the second quarter propelled the pharmaceutical giant to the largest quarterly sales in its history.
The coronavirus vaccine Comirnaty brought in $8.85 billion in sales, and the treatment Paxlovid added another $8.12 billion as company revenue totaled $27.74 billion.
Pfizer said Thursday that it earned $9.91 billion, or $1.73 per share, in the quarter. Its adjusted earnings were $2.04 per share.
Analysts expected earnings of $1.75 per share on $26.32 billion in sales, according to Zacks Investment Research.
Pfizer Inc., based in New York, also boosted the low end of its 2022 earnings forecast. It now expects adjusted earnings of $6.30 to $6.45 per share. Its previous forecast was for $6.25 to $6.45 per share. It still predicts revenue between $98 billion and $102 billion.
Analysts polled by FactSet forecast full-year earnings of $6.54 per share on revenue of $102.35 billion.
Pfizer maintained its outlook for full-year Comirnaty sales of approximately $32 billion and Paxlovid sales of about $22 billion.
Comirnaty has been, by far, the most popular of the four vaccines approved for use in the United States. More than 355 million doses of the two-shot vaccine have been administered, according to the Centers for Disease Control and Prevention.