PfizerAfter strong sales of the Covid vaccine, and oral antiviral treatments, it beat its bottom and top line earnings reports for its first quarter.

The first quarter’s revenue for the pharmaceutical company grew 77% to $252 billion, compared with last year. The quarter saw $13.2 billion of Covid vaccine sales and $1.5 billion sales for Paxlovid, its oral antiviral medication.

Pfizer recorded a net income in excess of $7.8 Billion. This is 61% more than the 1st quarter 2021. The adjusted earnings increased 72% to $1.62 per shares compared with the previous year.

Based on Refinitiv’s average estimates of analysts, here’s what Pfizer did compared with Wall Street’s expectations.

• Adjusted EPS: $1.62 per share, vs. $1.47 expected
• Revenue25.66 Billion, vs. expected $23.86 Billion

Pfizer claimed that Covid’s revenue was driven by booster doses and shot for children. Paxlovid’s U.S. launch was responsible for its 20 million-plus orders.

Pfizer has affirmed its guidance for 2022, with $32 Billion in Covid sales and $22 Billion for Paxlovid.

In premarket trading, shares of Pfizer were flat.

This is an ongoing story. Stay tuned for new updates.