Pfizer Inc. said Tuesday it had net income of $2.376 billion, or 38 cents a share, in the first quarter, up from $2.329 billion, or 36 cents a share, in the year-earlier period. Adjusted per-share earnings came to 51 cents, ahead of the FactSet consensus of 49 cents. Revenue fell to $10.9 billion from $11.4 billion, but was ahead of the FactSet consensus of $10.8 billion. The company, which agreed in the first quarter to acquire Hospira Inc., revised its full-year outlook to reflect the impact of currency changes, mostly the weakening of the euro. Pfizer now expects full-year revenue of $44.0 billion to $46.0 billion, compared with a prior range of $44.5 billion to $46.5 billion. It expects adjusted EPS of $1.95 to $2.05, down from a prior range of $2.00 to $2.10. Shares were slightly lower in premarket trade, but are up 11% in the year so far, while the Dow Jones industrial Average has gained 1.2%.
Copyright © 2015 MarketWatch, Inc.
Continue Reading Below