Pfizer raises its full-year adjusted profit guidance on cost cuts and strong business performance, with second-quarter results exceeding Wall Street’s estimates. Stock rose more than 4%. The company now expects full-year adjusted profit between $2.90 and $3.10 and maintains a revenue forecast of $61 billion to $64 billion for 2025.

Pfizer’s outlook includes a one-time charge of $1.35 billion for a licensing deal with 3SBio. The company is navigating President Trump’s calls to lower drug prices and planned tariffs on pharmaceuticals imported into the U.S. Pfizer is engaged in conversations with the administration to find solutions.

Pfizer reported earnings per share of 78 cents adjusted and revenue of $14.65 billion for the second quarter, beating Wall Street expectations. The increase in sales was driven by higher revenues for various products, including Vyndaqel, Comirnaty, and Paxlovid. Revenue growth was offset by lower sales from Ibrance.

Pfizer is working on cost-cutting efforts to recover from the decline of its Covid business and stock price. The company expects to deliver around $7.7 billion in savings by the end of 2027 from two separate cost-cutting programs. Analysts expected lower sales for Pfizer’s Covid products, but they exceeded estimates for the period.

Read more at CNBC: Pfizer (PFE) Q2 2025 earnings report