PFE - Why Is BioNTech Stock Trading Lower On Wednesday? | Benzinga
Pfizer Inc’s (NYSE:PFE) German partner, BioNTech SE (NASDAQ:BNTX), reported fourth-quarter 2023 EPS of fiscal year Q4 GAAP EPS of €1.90 versus €9.26, a year ago, equivalent to $2.04 missing the consensus of $2.64.
The company’s sales came in at €1.479 billion, down €4.278 billion a year ago, equivalent to $1.59 billion for the fourth quarter of 2023, missing the consensus of $1.99 billion.
Inventory write-downs by BioNTech’s collaboration partner Pfizer reduced BioNTech’s revenues by €291.3 million and €906.7 million for the fourth quarter and fiscal year 2023, respectively.
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