In the first quarter, the revenue of Pfizer increased 45 percent year over year to $14.58 billion. The company increased its total revenue estimate this year to $70.5 billion to $72.5 billion from the previously anticipated $59.4 billion to $61.4 billion. Pfizer’s adjusted profit in the quarter was 93 cents a share. Analysts surveyed by FactSet had been forecasting an adjusted profit of 78 cents a share on sales of $13.62 billion.
US electric car manufacturer Tesla increased its net profit to a record $438 million in the first quarter of this year thanks to massive sales growth. During the same period last year, its profit was only $18 million. In addition, the company profited from the sale of bitcoins, managed to circumvent the global shortage of chips and also improved production. Expectations were set too high and stocks in extended trading fell as much as 3.1 percent.