Pfizer beats Street 4Q forecasts
NEW YORK (AP) -- Pfizer Inc. (PFE) on Tuesday reported fourth-quarter earnings of $1.23 billion.
On a per-share basis, the New York-based company said it had net income of 19 cents. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, came to 54 cents per share.
The results surpassed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 53 cents per share.
The drugmaker posted revenue of $13.12 billion in the period, also topping Street forecasts. Analysts expected $12.87 billion, according to Zacks.
Pfizer expects full-year earnings in the range of $2 to $2.10 per share, with revenue in the range of $44.5 billion to $46.5 billion.
Pfizer shares have climbed slightly more than 5 percent since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. The stock has increased 9 percent in the last 12 months.
Keywords: Pfizer, Earnings Report, Priority Earnings