Pfizer stock tumbled despite strong earnings and raised revenue guidance

From Nasdaq: 2024-10-29 19:06:54

Pfizer (NYSE: PFE) disappointed investors with a more than 1% share price drop after reporting strong third-quarter earnings of $17.7 billion, a 32% year-over-year increase. The company also revealed a profit of $6 billion, beating analyst expectations. CEO Albert Bourla defended recent acquisitions against criticism from activist investor Starboard Value. Despite the dip, Pfizer raised its 2024 revenue guidance to $61-$64 billion and adjusted earnings to $2.75-$2.95 per share. Meanwhile, analysts recommend seizing potentially lucrative investment opportunities before they pass.



Read more at Nasdaq: Why Pfizer Stock Tumbled on Tuesday