Pfizer sees earnings down but beats expectations, and Lipitor still growing

Pfizer may be the world's largest pharmaceutical company by sales but, for the second quarter, it has seen earnings decline on a year-on-year basis. Nevertheless, the firm still managed to beat consensus analysts' forecasts with its fourth-quarter 2005 results, and saw its shares rise 3% to $27.78 after posting the figures on January 19.

Net income for the reporting quarter fell 3% to $2.73 billion, or $0.37 a share, while revenues dropped 9% to $13.59 billion. Without special items, earnings would have reached $0.51 per share, which was well up on analysts' expectations of $0.42 and was a pleasant surprise when compared with third-quarter results, when Pfizer shocked the markets recording a 52% slump in earnings Marketletter October 31, 2005).

Taking action to build Pfizer's value; CEO