Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Pfizer Inc., consolidated income statement (quarterly data)

US$ in millions

3 months ended:	Dec 31, 2023	Oct 1, 2023	Jul 2, 2023	Apr 2, 2023	Dec 31, 2022	Oct 2, 2022	Jul 3, 2022	Apr 3, 2022	Dec 31, 2021	Oct 3, 2021	Jul 4, 2021	Apr 4, 2021	Dec 31, 2020	Sep 27, 2020	Jun 28, 2020	Mar 29, 2020	Dec 31, 2019	Sep 29, 2019	Jun 30, 2019	Mar 31, 2019
Revenues	14,248)	13,232)	12,734)	18,282)	24,289)	22,638)	27,742)	25,661)	23,838)	24,035)	18,899)	14,516)	11,684)	10,277)	9,864)	10,083)	12,688)	12,680)	13,264)	13,118)
Cost of sales	(7,562)	(9,269)	(3,237)	(4,886)	(9,649)	(6,063)	(8,648)	(9,984)	(9,736)	(9,932)	(6,996)	(4,157)	(2,919)	(2,007)	(1,826)	(1,940)	(2,608)	(2,602)	(2,576)	(2,433)
Gross profit	6,686)	3,963)	9,497)	13,396)	14,640)	16,575)	19,094)	15,677)	14,102)	14,103)	11,903)	10,359)	8,765)	8,270)	8,038)	8,143)	10,080)	10,078)	10,688)	10,685)
Selling, informational and administrative expenses	(4,575)	(3,281)	(3,497)	(3,418)	(4,645)	(3,391)	(3,048)	(2,593)	(4,104)	(2,899)	(2,923)	(2,777)	(3,757)	(2,658)	(2,659)	(2,541)	(4,240)	(3,260)	(3,511)	(3,339)
Research and development expenses	(2,815)	(2,711)	(2,648)	(2,505)	(3,616)	(2,696)	(2,815)	(2,301)	(3,446)	(2,681)	(2,239)	(1,994)	(3,355)	(2,300)	(2,078)	(1,672)	(2,822)	(2,283)	(1,842)	(1,703)
Acquired in-process research and development expenses	(73)	(67)	(33)	(21)	(73)	(524)	(1)	(355)	(2,469)	(762)	(219)	(19)	—)	—)	—)	—)	—)	—)	—)	—)
Amortization of intangible assets	(1,267)	(1,179)	(1,184)	(1,103)	(1,130)	(822)	(822)	(835)	(957)	(968)	(917)	(858)	(856)	(862)	(869)	(849)	(1,031)	(1,212)	(1,184)	(1,183)
Restructuring charges and certain acquisition-related costs	(2,565)	(155)	(214)	(9)	(795)	(199)	(189)	(192)	(135)	(646)	1)	(22)	(184)	(2)	(360)	(54)	(451)	(365)	115)	(46)
Operating income (loss)	(4,609)	(3,430)	1,921)	6,340)	4,381)	8,943)	12,219)	9,401)	2,991)	6,147)	5,606)	4,689)	613)	2,448)	2,072)	3,027)	1,536)	2,958)	4,266)	4,414)
Gain on completion of Consumer Healthcare JV transaction	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	6)	(1)	8,087)	—)	—)
Other income (deductions), net	480)	78)	348)	(70)	849)	58)	(772)	(350)	836)	1,696)	1,342)	1,004)	446)	(1,878)	954)	(191)	(3,043)	(318)	(125)	(92)
Income (loss) from continuing operations before (provision) benefit for taxes on income (loss)	(4,129)	(3,352)	2,269)	6,270)	5,230)	9,001)	11,447)	9,051)	3,827)	7,843)	6,948)	5,693)	1,059)	570)	3,026)	2,842)	(1,508)	10,727)	4,141)	4,322)
(Provision) benefit for taxes on income (loss)	794)	964)	71)	(715)	(230)	(356)	(1,570)	(1,172)	(249)	328)	(1,123)	(808)	(42)	347)	(422)	(359)	1,181)	(3,047)	915)	(433)
Income (loss) from continuing operations	(3,335)	(2,388)	2,340)	5,555)	5,000)	8,645)	9,877)	7,879)	3,578)	8,171)	5,825)	4,885)	1,017)	917)	2,604)	2,483)	(327)	7,680)	5,056)	3,889)
Discontinued operations, net of tax	(25)	12)	(2)	1)	3)	(22)	34)	(9)	(187)	(12)	(236)	1)	297)	560)	893)	881)	—)	4)	—)	—)
Net income (loss) before allocation to noncontrolling interests	(3,360)	(2,376)	2,338)	5,556)	5,003)	8,623)	9,911)	7,870)	3,391)	8,159)	5,589)	4,886)	1,314)	1,477)	3,497)	3,364)	(327)	7,684)	5,056)	3,889)
Net income attributable to noncontrolling interests	(9)	(6)	(11)	(13)	(9)	(15)	(5)	(6)	2)	(13)	(26)	(9)	(11)	(8)	(8)	(9)	(10)	(4)	(10)	(5)
Net income (loss) attributable to Pfizer Inc.	(3,369)	(2,382)	2,327)	5,543)	4,994)	8,608)	9,906)	7,864)	3,393)	8,146)	5,563)	4,877)	1,303)	1,469)	3,489)	3,355)	(337)	7,680)	5,046)	3,884)
Preferred stock dividends, net of tax	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	1)	—)	(1)	(1)
Net income (loss) attributable to Pfizer Inc. common shareholders	(3,369)	(2,382)	2,327)	5,543)	4,994)	8,608)	9,906)	7,864)	3,393)	8,146)	5,563)	4,877)	1,303)	1,469)	3,489)	3,355)	(336)	7,680)	5,045)	3,883)

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Income statement item	Description	The company
Revenues	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Pfizer Inc. revenues increased from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.
Operating income (loss)	The net result for the period of deducting operating expenses from operating revenues.	Pfizer Inc. operating income (loss) decreased from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.
Income (loss) from continuing operations before (provision) benefit for taxes on income (loss)	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Pfizer Inc. income (loss) from continuing operations before (provision) benefit for taxes on income (loss) decreased from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.
Net income (loss) attributable to Pfizer Inc.	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Pfizer Inc. net income (loss) attributable to Pfizer Inc. decreased from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.

Pfizer Inc. (NYSE:PFE)

Income StatementQuarterly Data

Income Statement
Quarterly Data