Pfizer’s profits strong, revenue just short

Pfizer is reporting strong first-quarter profits, but revenue is short of Wall Street expectations.

The New York company had a net income of $3.56 billion, or 59 cents per share. Earnings, adjusted for non-recurring costs, came to 77 cents per share, 3 cents better than industry analysts had expected, according to a survey by Zacks Investment Research.

Revenue was $12.91 billion, short of the $13.09 billion that analysts had projected,

The drugmaker expects full-year earnings between $2.90 and $3 per share, with revenue in the range of $53.5 billion to $55.5 billion.

Shares of Pfizer Inc. fell 3 percent before the opening bell Tuesday.


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