Pfizer Earnings, Sales Above Expectations

Drug maker Pfizer Inc. on Tuesday posted second-quarter results that exceeded Wall Street's targets. Net earnings were $2.01 billion, or 33 cents a share, compared with $2.63 billion, or 42 cents a share, a year ago. Pfizer's revenue rose to $13.15 billion from $11.85 billion in the year-earlier period. Adjusted earnings came in at 64 cents a share. Analysts polled by FactSet had expected adjusted earnings of 62 cents a share, on revenue of $13.01 billion. Pfizer reaffirmed its 2016 view for revenue of $51 billion to $53 billion, and its adjusted-earnings forecast of $2.38 to $2.48 a share.