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Pfizer's Earnings: Beating Estimates, But Still a Loser?
So, Pfizer's stock dipped even after they supposedly "beat" Wall Street's expectations. Give me a break. Adjusted earnings per share at 87 cents when they were only expected to hit 63? Revenue at $16.7 billion versus the predicted $16.5 billion? Sounds like a win, right? Wrong.
Here's the part they conveniently bury: that EPS is down almost 18% year-over-year. And revenue? Down 7%. So they beat expectations... that were already in the toilet. It's like celebrating finishing a marathon after crawling the last 10 miles.
The COVID Hangover is Real
The excuse? Paxlovid sales tanked because, shocker, fewer people are panicking about COVID. Comirnaty sales also took a nosedive. You know, the vaccine they were pushing harder than a used car salesman pushes rust buckets. Maybe, just maybe, the world is moving on, and Pfizer is stuck holding the bag.
But hey, they "narrowed and increased" their adjusted EPS guidance! From $2.90-$3.10 to a slightly less pathetic $3-$3.15. They're so generous. And they reaffirmed their revenue outlook of $61-$64 billion. Tariffs are included, offcourse. Thanks for that crucial detail, Pfizer.
The whole thing reminds me of those "exciting" new tech gadgets that promise to revolutionize your life... but end up collecting dust in a drawer after a week. Are we really supposed to believe that Pfizer can bounce back from this COVID hangover, or are they just another flash in the pan?
Wall Street's Wishy-Washy Verdict
And what does Wall Street think? A consensus "Hold." Four "Buys," twelve "Holds," and a single, lonely "Sell." That's not exactly a ringing endorsement. An average stock price target of $28.60, a potential 15.98% upside? Analysts will probably change their tune after this report, but who knows when.
I mean, what's the point of even listening to these analysts? They're always hedging their bets, covering their asses. It's like they're paid to be indecisive. Which, let's be real, they probably are.
My dentist tried to get me to invest in Pfizer last year. Said it was a "sure thing". Should have known better. Now I'm paying for his bad advice AND a root canal.
