Pfizer misses Street 3Q forecasts

Pfizer Inc. (PFE) on Tuesday reported third-quarter earnings of $1.32 billion.

On a per-share basis, the New York-based company said it had net income of 21 cents. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, were 61 cents per share.

The results missed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.

The drugmaker posted revenue of $13.05 billion in the period, also missing Street forecasts.

Pfizer expects full-year earnings in the range of $2.38 to $2.43 per share, with revenue in the range of $52 billion to $53 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PFE at https://www.zacks.com/ap/PFE

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Keywords: Pfizer, Earnings Report, Priority Earnings