Pfizer Beats Q4 Estimates, Driven by Vaccine Sales and Cost Cuts

Pfizer (NYSE: PFE) exceeded Wall Street's expectations for its fourth-quarter earnings, boosted by cost-saving measures and stronger-than-anticipated demand for its COVID-19 vaccine.

On an adjusted basis, the pharmaceutical giant reported earnings per share of 63 cents for the quarter ended December 31st. This surpassed the consensus estimate of 47 cents per share among analysts, as compiled by LSEG.