Pfizer's 'solid' third-quarter enough to beat earnings estimates
Pfizer (NYSE: PFE) beat Wall Street earnings estimates with its third-quarter results, but no-one was getting too carried away at the US pharma giant or among its investors.
Quarterly revenues rose by 1%, increasing for the first time in four quarters, to $13.17 billion. This was in line with analyst expectations.
Net income more than doubled to $2.84 billion, or $0.47 per share. Excluding one-time items, Pfizer earned $0.67 per share, beating analysts’ average estimate of $0.64, according to Thomson Reuters.
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