Pfizer (PFE) reported revenues of $13.5 billion during the second quarter—4% revenue growth YoY compared to $12.9 million during the second quarter of 2017. The revenues are expected to increase 2.8% to $13.5 billion during the third quarter.
The above chart compares Pfizer’s revenue trend since the first quarter of 2017.
Pfizer’s revenue growth is driven by a constant increase in product sales from the Innovative Health segment. Lower product sales in the Essential Health segment offset the growth.
Geographically, Pfizer’s revenue growth is driven by sales from international markets. International markets reported 11% revenue growth YoY to ~$7.2 billion, while US markets reported a 2% decline in its revenues YoY to $6.3 billion during the quarter.
The Innovative Health segment reported revenues of ~$8.3 billion during the second quarter—8% revenue growth. The growth included a 5% increase in operating revenues and foreign exchange’s 3% favorable impact. The operating revenues increased due to strong sales in consumer healthcare, oncology, vaccines, inflammation and immunology, and internal medicines.
The Essential Health segment reported revenues of ~$5.2 billion during the second quarter—a 1% decline in revenues. The operating revenues decreased 4%, while foreign exchange had a 3% favorable impact during the quarter. The operating revenues decreased due to lower sales of Peri-LOE products, Sterile Injectable products, and legacy established products.