Pfizer Q4 results top forecast, gives cautious 2013 view
January 29, 2013 11:49 PM EST
The largest U.S. drugmaker said its earnings quadrupled to $6.32 billion, or 86 cents per share, in the quarter as it recorded gains from the approximately $12 billion sale in November of its nutritional products business to Swiss food groups Nestle SA
Excluding special items, Pfizer earned 47 cents per share. Analysts, on average, expected 44 cents per share, according to Thomson Reuters I/B/E/S.
Global company sales fell 7 percent to $15.1 billion, hurt by generic competition for its Lipitor cholesterol fighter, but came in well above Wall Street expectations of $14.37 billion.
Pfizer forecast full-year earnings, excluding special items of $2.20 to $2.30 per share. The average analyst forecast was $2.29 per share, according to Thomson Reuters.
(Reporting by Ransdell Pierson; Editing by Jeffrey Benkoe and Maureen Bavdek)
Most Popular Slideshows
Join the Conversation
- Tourre on stand says email in SEC case 'not accurate'
- Syrian authorities blocking access to needy in Homs - Red Cross
- Faith in European Union at low ebb, EU poll says
- Former UBS banker gets 18 months, $1 million fine, for muni bid-rigging scheme
- U.S. judge halts challenges to Detroit's bankruptcy bid
- Chilling: New ISIS Video Addresses Australia; Aussie Teen Delivers Message
- The Pirate Bay Blockade: Cost Of Blocking Websites Like TPB Is Ridiculously High
- Xiaomi Mi4 And MiPad Prices Likely Slashed, Thanks To Rivals Oppo, OnePlus And Meizu
- Virginia Woman Who Posted Naked Image Of Ex-BF’s New Partner 1st Person Charged Under Revenge Porn Law
- No Mercy: ISIS, Father Stones to Death Daughter for Alleged Adultery
- Meizu MX4 Pro To Arrive In November In Black And White Colours, Features Higher Than QHD Display, Exynos 5430 SoC And 3 GB RAM
- iOS 8 Jailbreak Release Date is Doomed as Team Evad3rs Opts Out, Pangu Hits Snag – Report