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Pfizer beats earnings estimates, hikes full-year outlook as drugmaker cuts costs

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The results come as Pfizer scrambles to stabilize its business and win back Wall Street’s favor following the rapid decline in demand for its Covid products.

Pfizer reported second-quarter revenue and adjusted earnings that blew past expectations and raised its full-year outlook as the drugmaker works to slash costs.

Pfizer also hiked its revenue outlook to a range of $59.5 billion to $62.5 billion, up from a previous revenue forecast of between $58.5 billion and $61.5 billion.

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