Pfizer (PFE) Revenue — Quarter Ended Mar 31, 2024
Revenue for the quarter decreased compared to the same period last year, primarily due to declines in certain products. However, revenue increased relative to the immediately preceding quarter.
Key takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue for the quarter decreased compared to the same period last year, primarily due to declines in certain products. However, revenue increased relative to the immediately preceding quarter.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$14.9B
Revenue reported for this quarter.
Quarter-over-quarter
+2.1%
Change from the immediately preceding quarter.
Year-over-year
-19.5%
Change from the comparable year-ago quarter.
Trailing four quarters
$55.9B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jul 2, 2023 | $13B | -53.1% |
| Oct 1, 2023 | $13.5B | -40.4% |
| Dec 31, 2023 | $14.6B | -42.0% |
| Mar 31, 2024 | $14.9B | -19.5% |
Revenue performance
Total revenues declined year over year, driven by lower sales of Comirnaty and Paxlovid. Excluding these products, revenues grew, supported by contributions from recent acquisitions and other product growth.
Quarterly comparison
Compared to the prior quarter, revenue showed an increase. Compared to the same quarter a year ago, revenue was lower.
What to watch
Monitor the ongoing performance of key products and the impact of business development activities on future revenue.