Pfizer could hit new highs on strong earnings

Pfizer (PFE) – Get report On Tuesday it was receiving a solid boost, more than 4% after the company’s better-than-expected earnings report.

The company reported second-quarter earnings of 78 cents a share, beating estimates by 12 cents. Revenue of $ 11.8 billion sank 11% year-over-year, but exceeded estimates by $ 250 million.

Even better, the company’s year-round guidance was ahead of expectations.

The action has been quite interesting in the Pfizer stock. On the one hand, stocks hit in June, dropping nearly 20% in one month. However, positive news about his coronavirus treatment helped boost Pfizer, sending him above June highs.