Pfizer (PFE) Revenue — Quarter Ended Mar 30, 2025
Total revenues decreased in the first quarter of 2025 compared to both the prior quarter and the same quarter a year ago. The decline was primarily driven by lower sales of Paxlovid, partially offset by growth from the Vyndaqel family, Comirnaty, and several other products.
Key takeaway
Quarter ended Mar 30, 2025 · FY2025 Q1
Total revenues decreased in the first quarter of 2025 compared to both the prior quarter and the same quarter a year ago. The decline was primarily driven by lower sales of Paxlovid, partially offset by growth from the Vyndaqel family, Comirnaty, and several other products.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$13.7B
Revenue reported for this quarter.
Quarter-over-quarter
-22.8%
Change from the immediately preceding quarter.
Year-over-year
-7.8%
Change from the comparable year-ago quarter.
Trailing four quarters
$62.5B
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 |
|---|---|---|
| Jun 30, 2024 | $13.3B | +2.1% |
| Sep 29, 2024 | $17.7B | +31.2% |
| Dec 31, 2024 | $17.8B | +21.9% |
| Mar 30, 2025 | $13.7B | -7.8% |
Revenue performance
The reported revenue decline reflects operational decreases, with a significant drop in Paxlovid partially mitigated by gains in the Vyndaqel family and Comirnaty. Foreign exchange also had an unfavorable impact on the quarter's results.
Quarterly comparison
Revenue decreased sequentially from the immediately preceding quarter and also fell year-over-year compared to the same period last year. The sequential decline aligns with typical seasonal patterns for certain vaccines and lower Paxlovid contributions.
What to watch
Monitor the ongoing effect of the IRA Medicare Part D Redesign on manufacturer discounts and the seasonal demand trends for vaccines and COVID-19 treatment products.