The Quarter in Brief
Pfizer reported its third quarter of 2026, the three months to September 27, before the market opened on November 3. Revenue was $16.58 billion, against $16.65 billion a year earlier, a fall of 0.4%. Adjusted earnings per share, the company's measure that leaves out the amortization of intangible assets, acquisition-related items and certain significant items such as restructuring, were $0.87, the same as a year earlier. Reported earnings per share fell to $0.56 from $0.62.
Both figures were ahead of expectations: the consensus compiled by Financial Modeling Prep was about $15.85 billion of revenue and $0.74 of adjusted earnings per share. What set the quarter apart was how two halves of the company moved in opposite directions. Revenue from Pfizer's two COVID-19 products, the Comirnaty vaccine and the Paxlovid pill, fell 47% to $1.26 billion. Everything else grew 7% to $15.33 billion, led by the blood thinner Eliquis, up 25%.