Pfizer’s 3Q Earnings Top Estimates

U.S. drugmaker Pfizer reported a much better-than-expected quarterly profit, mainly helped by demand for its pneumonia vaccine and breast cancer drug, Ibrance.

The company also raised its full-year profit and revenue forecast for the second time in as many months.

Pfizer's shares were up about 4 percent in premarket trading.

Net income fell to $2.13 billion, or 34 cents per share, in the third quarter, from $2.67 billion, or 42 cents per share, a year earlier.

On an adjusted basis, the company earned 60 cents per share, above the analysts' average estimate of 51 cents per share, according to the Thomson Reuters I/B/E/S.

Revenue fell 2 percent to $12.09 billion, but was above the analysts' estimate of $11.56 billion.

The largest U.S. drugmaker said revenue from its global vaccines business rose 43 percent to $1.63 billion. The unit, which includes the Prevnar 13 pneumonia vaccine, contributed about 13.5 percent to the company's total revenue.

Pfizer raised its 2015 revenue range by $1 billion to $47.5 billion-$48.5 billion.

(Reporting by Ankur Banerjee in Bengaluru; Editing by Sriraj Kalluvila)