Pfizer Q3 profit beats estimates; ups FY estimates
US pharma giant Pfizer (NYSE: PFE) on Tuesday reported third-quarter profit ahead of estimates and raise its full-year outlook boosted by new drug sales.
The company reported third-quarter profit of $2.13 billion, or 34 cents a share, down from $2.67 billion, or 42 cents, a year ago. Excluding special items, earnings per share rose to 60 cents from 57 cents.
Revenue fell 2.2% to $12.09 billion, the drugmaker said. The company said research and development spending dropped 4% during the quarter.
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