Shares of Pfizer surge following earnings beat

Pfizer's strong earnings report led to a jump in its share price

Pfizer Inc.'s shares rose 3.5% in premarket trading on Tuesday after the pharmaceutical giant reported better-than-expected earnings for the fourth quarter of 2022.

The New York-based company reported adjusted earnings per share of $1.14, beating the consensus estimate of $1.07. Revenue for the quarter came in at $24.3 billion, also ahead of the $23.8 billion analysts had expected.

Pfizer's strong performance was driven by sales of its COVID-19 vaccine and antiviral treatment, Paxlovid. The company said it sold $5.6 billion worth of the vaccine and $1.5 billion worth of Paxlovid in the fourth quarter.

Pfizer Aktie