Pfizer: Q1 Earnings Snapshot
NEW YORK (AP) _ Pfizer Inc. (PFE) on Tuesday reported first-quarter earnings of $4.88 billion.
On a per-share basis, the New York-based company said it had profit of 86 cents. Earnings, adjusted for non-recurring costs, came to 93 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 79 cents per share.
The drugmaker posted revenue of $14.58 billion in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $13.49 billion.
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.
Pfizer shares have risen 8% since the beginning of the year, while the S&P’s 500 index has risen 12%. The stock has climbed almost 6% in the last 12 months.