NEW YORK (AP) – Pfizer Inc. (PFE) on Tuesday reported third-quarter profit of $2.13 billion.
The New York-based company said it had profit of 34 cents per share. Earnings, adjusted for one-time gains and costs, came to 60 cents per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 51 cents per share.
The drugmaker posted revenue of $12.09 billion in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $11.49 billion.
Pfizer expects full-year earnings in the range of $2.16 to $2.20 per share, with revenue in the range of $47.5 billion to $48.5 billion.
Pfizer shares have climbed almost 10 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed roughly 1 percent. The stock has risen 17 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PFE at http://www.zacks.com/ap/PFE
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Keywords: Pfizer, Earnings Report, Priority Earnings