Pfizer blames shorter quarter for sluggish sales

2 May 2017

US pharma giant Pfizer (NYSE: PFE) has announced a 1% decline in sales and a 3% increase in earnings per share in first -quarter 2017, compared with the same period last year.

Total revenue stood at $12.8 billion, short of analysts’ expectations. The earnings per share figure, following generally accepted accounting principles (GAAP), was $0.69.

For the second quarter running, the company pointed the finger at a shorter selling period to explain the decline, noting there was one less business day in the USA this quarter and two fewer globally.

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