Pfizer is raising its revenue expectations for the year with a huge roll out of its COVID-19 vaccine as well as strong performances from other parts of its business.

The company reported first-quarter earnings of $4.88 billion, or 86 cents per share. Per-share earnings were 93 cents if one-time costs or gains are removed. That far above the 79 cents Wall Street was looking for, according to a survey by Zacks Investment Research.

Revenue was $14.58 billion, also easily exceeding forecasts of $13.49 billion from industry analysts.

Pfizer expects full-year earnings in the range of $3.55 to $3.65 per share, with revenue in the range of $70.5 billion to $72.5 billion.

The New York company is manufacturing hundreds of millions of doses of the COVID-19 shot and pushing forward on research gauging its effectiveness in different patient groups, such as teens and people with compromised immune systems.

Pfizer has said that this year it can produce 2 billion doses of the vaccine, developed with its German partner BioNTech, including 200 million doses promised for the U.S. by the end of May.

—————

Portions of this story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PFE at https://www.zacks.com/ap/PFE

Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

More from this section

Cutting operations are on hold as engineers moved in Saturday to make a post-fire assessment of the shipwrecked Golden Ray, the remains of which became engulfed in thick black smoke and raging flames early Friday afternoon.

A hospital is comprised of many departments and team members, from medical staff such as doctors, nurses and technicians to nonclinical departments, including environmental services, safety and security, and facilities. Working together, they strive to keep our community as healthy as possib…

Fire broke out inside what remains of the shipwrecked Golden Ray in the St. Simons Sound early Friday afternoon, possibly sparked by handheld welding torches used in precise cutting operations, said U.S. Coast Guardsman Michael Himes, spokesman for Unified Command.