12:18 PM EST, 02/04/2025 (MT Newswires) -- Pfizer's ( PFE ) fourth-quarter results topped market expectations amid double-digit revenue growth across key segments, while the pharmaceutical giant reiterated its full-year outlook.

The company on Tuesday posted adjusted earnings of $0.63 a share for the December quarter, jumping from $0.10 the year before and ahead of the FactSet-polled consensus of $0.47. Revenue climbed 22% to $17.76 billion, above the Street's view for $17.35 billion.

For 2025, Pfizer ( PFE ) continues to project adjusted EPS in a range of $2.80 to $3 and revenue between $61 billion and $64 billion. The Street is looking for non-GAAP EPS of $2.91 and sales of $63.07 billion. In the previous year, adjusted EPS surged 69% to $3.11 while revenue added 7% to $63.63 billion.

"We believe our financial targets for 2025 are both reasonable and achievable, reinforcing our commitment to operational excellence," Chief Financial Officer David Denton said in prepared remarks. "We also believe our revenue volatility is largely in the past as COVID-related uncertainties have diminished."

For the fourth quarter, revenue in the primary care division, which includes the company's Comirnaty and Paxlovid COVID-19 products, advanced 27% to $8.91 billion. Paxlovid logged revenue of $727 million versus negative $3.14 billion in the prior-year period, driven by a transition to traditional commercial market sales in the US, including a one-time, non-cash revenue reversal of $3.5 billion in the 2023 quarter. Comirnaty sales slid 37% to $3.38 billion amid fewer vaccinations and lower contracted doses, according to the company.

Pfizer ( PFE ) reported a 12% revenue increase in the specialty care business to $4.44 billion, driven by a 61% surge in the Vyndaqel family of transthyretin amyloid cardiomyopathy treatments. Oncology sales rose to $4.06 billion from $3.19 billion last year, including a 24% gain in Xtandi sales.

Selling, informational and administrative expenses fell 7%, while research and development costs grew to $3.04 billion from $2.82 billion year over year, the company said.

The company is targeting cost savings of roughly $4.5 billion by the end of the current year, having already saved $4 billion, Denton said in an earnings statement. "In addition, we remain on track to deliver $1.5 billion of net cost savings from the first phase of our manufacturing optimization program by the end of 2027, with initial savings expected in the latter part of 2025," according to the CFO.

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