(Alliance News) - Pfizer Inc on Tuesday posted lower first quarter earnings but improved revenue, as it reaffirmed its full-year guidance.

The New York-based pharmaceutical company reported USD2.69 billion in net income for the first quarter, down 9.4% from USD2.97 billion a year earlier. Diluted earnings per share fell to USD0.47 from USD0.52.

Revenue however rose 5.4% to USD14.45 billion from USD13.72 billion, as Product revenue grew 3.7% to USD11.72 billion, Alliance revenue improved 11% to USD2.34 billion and Royalty revenue increased 29% to USD396 million.

Rising costs hampered earnings, as cost of sales increased 25% to USD3.55 billion, and research and development expenses grew 13% to USD2.49 billion.

Pfizer also reported a swing to a USD461 million income tax provision from a benefit of USD189 million a year earlier.

Looking ahead, Pfizer reaffirmed its 2026 guidance, with it expecting revenue in a range of USD59.5 billion to USD62.5 billion. For 2025, it reported USD62.58 billion of revenue.

Pfizer also guides for adjusted diluted EPS between USD2.80 and USD3.00, compared to USD3.22 a year prior.

Shares in the company were up 1.3% at USD26.63 during pre-market dealings in New York on Tuesday.

"Our first-quarter results are attributable to our solid commercial performance globally as well as our ongoing focus on operational efficiency. This quarter, I'm particularly pleased with the 22% year-over-year operational revenue growth from our launched and acquired products. Today, we are reaffirming our full-year 2026 financial guidance."

By Christopher Ward, Alliance News reporter

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