Pfizer Q1 revenues jump 77% on Covid-19 vaccine

New York - Pfizer reported another quarter of huge revenue growth because of the Covid-19 vaccine on Tuesday, but lowered its full-year profit forecast due in part to shifts in foreign exchange.

The major American drugmaker reported revenues of $25.7 billion for the first quarter, up 77 percent from the year-ago period, with the Covid vaccine taking in $13.2 billion. Pfizer now sees full-year adjusted profits of $6.25 to $6.45 a share, down 10 cents from the previous range.