Pfizer Inc. (PFE) announced earnings for first quarter that decreased from last year but beat the Street estimates.
The company's earnings came in at $3.12 billion, or $0.55 per share. This compares with $5.54 billion, or $0.97 per share, in last year's first quarter.
Excluding items, Pfizer Inc. reported adjusted earnings of $4.67 billion or $0.82 per share for the period.
Analysts on average had expected the company to earn $0.52 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 19.5% to $14.88 billion from $18.49 billion last year.
Pfizer Inc. earnings at a glance (GAAP) :
-Earnings (Q1): $3.12 Bln. vs. $5.54 Bln. last year.
-EPS (Q1): $0.55 vs. $0.97 last year.
-Revenue (Q1): $14.88 Bln vs. $18.49 Bln last year.
-Guidance:
Full year EPS guidance: $2.15 - $2.35
Full year revenue guidance: $58.5 - $61.5 Bln
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