00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Pfizer beat Wall Street expectations for third quarter earnings and revenue
00:06and raised its full year outlook as demand for newly launched and acquired products grows,
00:12according to CNBC. The pharmaceutical giant reported adjusted earnings of 87 cents per
00:17share on revenue of $16.58 billion. Analysts expected 73 cents per share on revenue of $15.87
00:27billion. Pfizer now expects full year revenue between $62 billion and $64 billion and adjusted
00:35earnings between $2.95 and $3.05 per share. Sales of newly launched and acquired products
00:42grew 32%, while revenue from its COVID treatments declined. Pfizer is pursuing growth through
00:49acquisitions, cancer treatments, and weight loss drugs. The company is also targeting roughly
00:54$9.7 billion in net cost savings through 2029. For all things money, visit Benzinga.com.
