Investing.com -- Pfizer Inc. (NYSE: PFE) reported first-quarter earnings that exceeded Wall Street expectations, driven by strong performance from its recently launched and acquired products portfolio.

The pharmaceutical giant posted adjusted earnings per share of $0.75, beating the analyst consensus of $0.72 by $0.03. Revenue reached $14.5 billion, surpassing estimates of $13.84 billion and representing a 2% operational increase from the prior-year quarter of $13.7 billion. Excluding COVID-19 products Comirnaty and Paxlovid, revenues grew 7% operationally. The company's launched and acquired products portfolio delivered 22% operational revenue growth YoY.

Shares rose 0.2% following the results.

"We're off to a strong start in 2026, and it reinforces our confidence that we will successfully navigate this defining period for Pfizer," said Dr. Albert Bourla, Chairman and CEO. "Our R&D pipeline is advancing on multiple fronts – with positive Phase 3 readouts and encouraging mid-stage results building meaningful momentum – and I'm particularly encouraged by what we're seeing in oncology and obesity."

Revenue growth was led by Padcev, which increased 39% operationally, Eliquis up 8%, oncology biosimilars up 52%, and Nurtec up 41%. These gains were partially offset by declines in COVID-19 products, with Comirnaty down 59% operationally and Paxlovid down 63% operationally.

Pfizer reaffirmed its full-year 2026 guidance, projecting revenue of $59.5 billion to $62.5 billion and adjusted EPS of $2.80 to $3.00. The midpoint of the EPS guidance range at $2.90 is below the analyst consensus of $2.96.