Pfizer forecasts lower earnings

Note: This section contains information in English only.
Source: Dukascopy Bank SA


On Wednesday, Pfizer announced that their 2024 sales were expected to be $5 billion below Wall Street market expectations.

The announcement caused a major decline of the company's stock price. The stock price of the company lost $2.45 or 8.59% of its value at the start of Wednesday's US trading.

In addition, the company's stock price has declined more than 45% during this year, as an erosion of $10 billion in market capitalization has occurred. The main cause of the decline has been the end of Covid-19 pandemic. Markets had pumped up the stock during the pandemic, as the company had made $100 billion from vaccine sales in 2022. However, there are little to no buyers in 2023.
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