Pfizer shares resistant despite missing estimates on 2017 guidance

US pharma giant Pfizer (NYSE: PFE) missed analysts’ estimates with its forecast for revenue in 2017 as it presented a set of results which showed the increasing impact of competition and the company’s focus on mergers and acquisitions (M&A).

The full-year 2016 revenue figure was $52.8 billion, 8% up on the previous year, but the company’s adjusted income for 2016, of $7.22 billion, was up a more marginal 4% on 2015. Adjusted diluted earnings-per-share (EPS) were $1.17, compared to 2015’s $1.11.

Pfizer’s forecast for revenue in 2017 fell short of analysts’ predictions. Estimates compiled by Bloomberg had predicted $54.3 billion, but the company is only confident that it will be between $52 billion and $54 billion.