Pfizer Misses 4Q Profit Forecasts


Pfizer Inc. (PFE) on Tuesday reported fourth-quarter net income of $775 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the New York-based company said it had profit of 13 cents. Earnings, adjusted for non-recurring costs, were 47 cents per share.

The results fell short of Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.

The drugmaker posted revenue of $13.63 billion in the period, beating Street forecasts. Five analysts surveyed by Zacks expected $13.55 billion.

Pfizer expects full-year earnings in the range of $2.50 to $2.60 per share, with revenue in the range of $52 billion to $54 billion.

Pfizer shares have declined almost 4 percent since the beginning of the year, while the Standard & Poor's 500 index has increased almost 2 percent. The stock has increased nearly 4 percent in the last 12 months.



Add Comment

all comments

  Other news

more
Eurovision: Russia calls for rethink over banned singer Julia Samoilova

Eurovision: Russia calls for rethink over banned singer Julia Samoilova..

23-Mar, 10:00

Russia hopes Ukraine will rethink the decision to ban its Eurovision...

Protecting Trump family comes with additional $60mn price tag  US Secret Service

Protecting Trump family comes with additional $60mn price tag US Secret Service..

23-Mar, 21:40

The Secret Service added $60 million to its 2018 budget request to cover...

Mayfair window crush death: Kelvin Adsett guilty of manslaughter

Mayfair window crush death: Kelvin Adsett guilty of manslaughter..

23-Mar, 12:48

A man has been convicted over the death of a woman who was crushed by...

IS Claims Responsibility for Britain Parliament Attack

IS Claims Responsibility for Britain Parliament Attack..

23-Mar, 09:40

The property which was searched by police following yesterday's London...

China Lashes out at Mattis Remarks on East China Sea Islands

China Lashes out at Mattis Remarks on East China Sea Islands..

04-Feb, 00:00

The U.S. is putting regional stability in East Asia at risk, a Chinese...

Mammoth 'Butchered' by Ancient Man

Mammoth 'Butchered' by Ancient Man..

05-Mar, 18:06

On the frozen tundra of northern Siberia, scientists say a young woolly...

Turkey Arrests 2 Suspected Islamic State Militants

Turkey Arrests 2 Suspected Islamic State Militants..

11-Feb, 13:24

Two men suspected of planning Islamic State group attacks in Europe were...

Markets Right Now: Delay on health vote sinks a stock rally

Markets Right Now: Delay on health vote sinks a stock rally..

23-Mar, 16:46

The latest on developments in financial markets (All times local): 4:00...