Pfizer beats profit, sales forecasts

Reuters

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The world's biggest drugmaker said on Tuesday it earned $3.74 billion, or 48 cents per share in the third quarter, including a $1.3 billion after-tax gain on the recent sale of its Capsugel business.

That compared with a profit of $866 million, or 11 cents per share, in the year-earlier period, when the company took a big charge for asbestos litigation.

Excluding special items, Pfizer earned 62 cents per share. Analysts on average expected 56 cents per share, according to Thomson Reuters I/B/E/S.

Global revenue rose 7 percent to $17.19 billion, well above Wall Street expectations of $16.42 billion.

(Reporting by Ransdell Pierson; Editing by Derek Caney)

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