Pfizer Q1 2026 financial results were officially announced today, revealing a strong operational start to the year that exceeded Wall Street estimates. For the first quarter ending March 31, 2026, the pharmaceutical giant reported total revenues of $14.5 billion, reflecting a 2% operational increase compared to the same period last year. Notably, when excluding the declining contributions from COVID-19 products Comirnaty and Paxlovid, Pfizer’s core business delivered a 7% operational revenue growth.
Strategic Execution and Pfizer Q1 2026 Financial Results
The company’s performance this quarter was anchored by its “launched and acquired” portfolio, which saw a staggering 22% operational revenue growth. Key drivers included the oncology powerhouse Padcev, the migraine treatment Nurtec ODT, and the respiratory syncytial virus (RSV) vaccine Abrysvo.
We’re off to a strong start in 2026, and it reinforces our confidence that we will successfully navigate this defining period for Pfizer.
Dr. Albert Bourla, Chairman and CEO.
Q1 2026 Financial Summary (GAAP vs. Non-GAAP)
| Metric | Q1 2026 Reported | Q1 2025 Reported | % Change (Rel) | Q1 2026 Adjusted |
| Revenues | $14.5 Billion | $13.7 Billion | +5% | $14.5 Billion |
| Net Income | $2.69 Billion | $3.12 Billion | -14% | $4.29 Billion |
| Diluted EPS | $0.47 | $0.55 | -15% | $0.75 |
Learn More: Novartis Q1 2026 Results: Strong Growth in Priority Brands Amid Generic Erosion
Clinical Data Success in Pfizer Q1 2026 Financial Results
A significant highlight of the quarter was the clinical progress of the oncology pipeline. The Phase 3 EV-304 (KEYNOTE-B15) trial for Padcev in combination with pembrolizumab showed groundbreaking results for patients with Muscle-Invasive Bladder Cancer (MIBC).
| Trial Parameter | Result / Data Point |
| Primary Endpoint | Event-Free Survival (EFS) |
| Hazard Ratio (HR) | 0.53 (47% reduction in risk) |
| 95% Confidence Interval | 0.41 – 0.68 |
| Comparison | Padcev + pembro vs. Gemcitabine + Cisplatin |
| Patient Population | Cisplatin-eligible MIBC |
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Reaffirming 2026 Guidance and Future Outlook
Despite the expected decline in COVID-related sales, Pfizer’s management reaffirmed its full-year 2026 financial guidance. This decision is supported by disciplined cost management and a strategic commercial reorganization that created the new Global Hospital and Biosimilars Division.
Reaffirmed Full-Year 2026 Financial Guidance
| Component | 2026 Guidance Range |
| Total Revenues | $59.5 Billion to $62.5 Billion |
| Adjusted Diluted EPS | $2.80 to $3.00 |
| Adjusted SI&A Expenses | $12.5 Billion to $13.5 Billion |
| R&D Expenses | $11.0 Billion to $12.0 Billion |
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