By Nicholas G. Miller

Pfizer reported lower third-quarter profit as demand for its Covid-19 vaccine and antiviral drug continue to decline.

The drug maker posted net income of $3.54 billion, or 62 cents a share, down from $4.47 billion, or 78 cents a share, the year prior.

Adjusted earnings were 87 cents a share. Analysts had expected 63 cents, according to FactSet.

Sales fell to $16.65 billion from $17.7 billion. Wall Street had expected $16.5 billion. The company said the top-line decline was driven by lower Covid-19 infection rates, which hurt demand for its Paxlovid anti-viral, and narrower Covid-19 vaccine recommendations, which reduced the eligible population for its Comirnaty vaccine.

The company raised its full-year adjusted earnings guidance to $3 to $3.15 a share, up from its previous forecast of $2.90 to $3.10 a share. It reiterated its full-year revenue guidance of $61 billion to $64 billion. Analysts see sales of $62.82 billion and adjusted earnings of $3.04 a share.

Write to Nicholas G. Miller at nicholas.miller@wsj.com.

(END) Dow Jones Newswires

November 04, 2025 06:57 ET (11:57 GMT)

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