Why Pfizer Shot Higher Today
Inoculating the world can be quite beneficial for a big pharmaceutical company's finances. Such is the case with Pfizer (NYSE: PFE), the shares of which closed Wednesday more than 3% higher on the back of top- and bottom-line beats in its latest quarter.
Wednesday morning, Pfizer unveiled its Q2 figures. They revealed that the pharmaceutical sector giant earned revenue of $19 billion, a robust 86% higher than in the same quarter of 2020. Much of this was, of course, due to the BNT162b2 coronavirus vaccine it's developed with Germany-based BioNTech. But even stripping out the vaccine's sales from the top line, the company still managed to grow revenue by 10% to $11.1 billion. On average, analysts tracking Pfizer stock were modeling $18.45 billion.
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Source Fool.com
