Pfizer profit, sales beat expectations | The Daily Star
12:00 AM, August 04, 2010 / LAST MODIFIED: 12:00 AM, August 04, 2010

International Business News

Pfizer profit, sales beat expectations

Pfizer Inc reported higher-than-expected quarterly earnings and revenue, and the world's biggest drugmaker said its full-year profit will be at top end of its prior view as savings accrue from its recent merger with Wyeth.
Pfizer, whose shares rose 2.5 percent in premarket trading, completed its $67 billion acquisition of Wyeth in October.
The company said on Tuesday that it had earned $2.48 billion, or 31 cents per share, in the second quarter, compared with $2.26 billion, or 34 cents per share, a year earlier, when it had fewer outstanding shares.
Excluding special items, Pfizer earned 62 cents per share. Analysts on average expected 52 cents.
Global revenue rose 58 percent to $17.33 billion, well above the analysts' average forecast of $16.65 billion.

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