Pfizer Inc. announced on Tuesday that its revenue in the third quarter of the fiscal year 2023 saw an annual drop of 42% to reach $13.23 billion. The pharmaceutical company reported a net loss of $2.38 billion in contrast with a net income of $8.61 billion seen in the same period in 2022. It also registered diluted losses per share of $0.42 per share, unlike a year ago, when it recorded earnings per share (EPS) of $1.51.
"We are encouraged by the strong performance of Pfizer's non-COVID products in the third quarter of 2023, including significant contributions from new launches and robust year-over-year growth for several key in-line brands," Chairman and Chief Executive Officer (CEO) Dr. Albert Bourla commented.
Pfizer's shares went up by 0.39% in premarket trading, with investors seemingly encouraged by what Chief Financial Officer (CFO) David Denton cited as "the strong 10% operational revenue growth of Pfizer's non-COVID products."
