Q3 25 EPS
$0.87
BEAT +36.96%
Est. $0.64
Q3 25 Revenue
$16.65B
BEAT +0.92%
Est. $16.50B
vs S&P Since Q3 25
+4.7%
BEATING MARKET
PFE +11.1% vs S&P +6.4%
Market Reaction
Did PFE Beat Earnings? Q3 2025 Results
Pfizer delivered a strong earnings beat in Q3 2025, posting adjusted diluted EPS of $0.87 against a consensus estimate of $0.64, a 36.96% upside surprise, even as total revenue slipped 5.9% year-over-year to $16.65 billion, edging past the $16.50 bil… Read more Pfizer delivered a strong earnings beat in Q3 2025, posting adjusted diluted EPS of $0.87 against a consensus estimate of $0.64, a 36.96% upside surprise, even as total revenue slipped 5.9% year-over-year to $16.65 billion, edging past the $16.50 billion Wall Street expected. The central tension in the quarter was familiar: COVID-19 franchise erosion, with Paxlovid tumbling 55% operationally to $1.23 billion and Comirnaty falling 20% to $1.15 billion, offset by a non-COVID portfolio that grew 4% operationally, powered by Eliquis, the Vyndaqel family, and an oncology segment that generated $4.25 billion with Padcev, Lorbrena, and Braftovi all posting double-digit gains. Cost discipline also contributed meaningfully, with cost of sales as a percentage of revenue improving 4.7 percentage points year-over-year. Looking ahead, Pfizer raised and narrowed its full-year adjusted EPS guidance to $3.00 to $3.15, while reaffirming revenue guidance of $61.00 to $64.00 billion, signaling continued confidence despite ongoing patent cliff pressures and a competitive obesity market push via the proposed Metsera acquisition.
Key Takeaways
- • Non-COVID portfolio operational revenue growth of 4%
- • Eliquis growth driven by higher global demand and favorable U.S. net price from IRA Medicare Part D Redesign
- • Vyndaqel family growth driven by continuing uptake in patient diagnosis
- • Nurtec ODT/Vydura growth driven by strong U.S. demand and international launches
- • Cost of sales as a percentage of revenue improved 4.7 percentage points year-over-year
- • Favorable effective tax rate due to One Big Beautiful Bill Act and global tax resolutions
- • Manufacturing Optimization Program contributing savings in Q3 2025
PFE YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
PFE Revenue by Segment
With YoY comparisons, source: SEC Filings
PFE Revenue by Geography
With YoY comparisons, source: SEC Filings
“I am proud of Pfizer's leadership as the first in our industry to reach an agreement with the U.S. Government, which we believe provides greater clarity for our business. Additionally, our recent strategic actions have strengthened opportunities to advance innovation that could address significant medical needs in high growth markets, helping us deliver value for patients and shareholders.”
— Albert Bourla, Q3 2025 Earnings Press Release
PFE Earnings Trends
PFE vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
PFE EPS Trend
Earnings per share: estimate vs actual
PFE Revenue Trend
Quarterly revenue: estimate vs actual
PFE Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 25 BEAT FY | $0.57 | $0.66 | +15.79% | $17.56B | +4.09% |
| FY Full Year | $3.12 | $3.22 | +3.08% | $62.58B | +1.11% |
| Q3 25 BEAT | $0.64 | $0.87 | +36.96% | $16.65B | +0.92% |
| Q2 25 BEAT | $0.57 | $0.78 | +35.94% | $14.65B | +8.29% |
| Q1 25 BEAT | $0.68 | $0.92 | +35.19% | $13.72B | -2.69% |
| Q4 22 BEAT FY | $1.05 | $1.14 | +8.57% | $24.29B | +0.02% |
| FY Full Year | — | $6.58 | — | $100.33B | — |