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The Motley Fool fool.com 03 Aug, 2022 15:30 am

1 Reason to Buy Pfizer Stock After Earnings, and 1 Reason to Sell

1 Reason to Buy Pfizer Stock After Earnings, and 1 Reason to Sell
The market isn't putting too much faith in this drugmaker right now, and that could be a mistake.

During the second quarter, the drugmaker's revenue rose by 53% year over year on an operational basis to $27.During the second quarter, the drugmaker's non-coronavirus-related revenue grew by a meager 1% year over year.In the second quarter, Xeljanz's sales dropped by 24% year over year to $430 million.Revenue from immunosuppressant Enbrel also dropped by 10% year over year to $257 million, likely due to stiffer competition, a factor that also impacted its sales during the first quarter.

During the second quarter, sales of the anticoagulant increased by 23% year over year to $1.By themselves, Paxlovid and Comirnaty accounted for well over half of Pfizer's total revenue.

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