Pfizer Raises 2024 Profit Forecast Amid Strong Quarterly Performance

The pharmaceutical giant boosts its earnings outlook following better-than-expected Q1 results and significant cost-cutting measures.

Pfizer's Q1 earnings surpassed expectations with a notable rise in non-COVID product sales and effective cost reductions.
The company has adjusted its 2024 earnings projection upwards, now expecting $2.15 to $2.35 per share.
Revenue from Pfizer's COVID-19 products continues to decline, but the impact is mitigated by strong sales in other areas.
Pfizer is on track to achieve a $4 billion cost-cutting goal by year-end, enhancing its financial outlook.
Despite a general downturn in COVID-19 product demand, Pfizer sees steady sales in treatments like its pneumonia vaccines.