Pfizer’s 4th-qtr 2014 beats forecasts, but guidance disappoints

US pharma giant Pfizer (NYSE: PFE) today reported fourth-quarter 2014 earnings of $1.23 billion, and net earnings per share of $0.91, a slump of 51%. Pfizer’s shares dipped 0.9% to $32.80 in pre-market trading this morning, but were up 0.32% to $32.90 at 9:46 am.

Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions were $0.54 per share, beating Wall Street expectations and just shy of Zacks Investment Research’s forecast of $0.53. Pfizer posted revenue of $13.12 billion in the period, down 3%, but also topping Wall Street forecasts if $12.87 billion, according to Zacks.

For full-year 2014, revenues were down 4% at $49.6 billion, which reflects an operational decline of $1.1 billion, or 2%, and the unfavorable impact of foreign exchange of $912 million, with reported net income at $9.14 billion, down 58%, and reported diluted EPS of $1.42, down 55%.