UPDATE: Pfizer Reports Rise In Q2 Profit, Backs 2011 Forecast

Pfizer Inc PFE released its results for the second quarter on Tuesday. Pfizer's quarterly profit surged to $2.61 billion, or $0.33 per share, from $2.48 billion, or $0.31 per share, in the year-earlier period. Its adjusted profit came in at $0.60 per share. Pfizer's revenue declined to $17 billion from $17.1 billion. However, analysts were expecting earnings of $0.59 per share on revenue of $17 billion. Pfizer continues to expect adjusted 2011 profit of $2.16 to $2.26 per share, versus analysts' estimates of $2.25 per share. It still projects to repurchase between $5 billion and $7 billion of its common stock this year. Pfizer shares dropped 1.10% to $18.80 in pre-market trading.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidancePre-Market OutlookEarningsHealth CarePharmaceuticals
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!