Pfizer takes currency and generics hits, but beats expectations
US pharma giant Pfizer (NYSE: PFE) posted second-quarter 2015 financials, showing that revenue fell 7% to $11.85 billion, but this still topped analysts’ average expectations $11.41 billion. Excluding the impact of foreign exchange rates, revenues advanced 1%, the company noted.
Pfizer Inc.'s earnings fell to $2.63 billion from $2.91 billion. Earnings, adjusted for one-time gains and costs, totaled $0.56 per share in the most recent quarter. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $0.51 per share. The firm’s shares edged 1.1% higher in pre-market trading, and later moved up 2.17% to $34.81.
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