Pfizer Inc. (NYSE:PFE) reported second quarter 2020 earnings results today.
Revenues fell 11% to $11.8 billion. The decline was 9% on an operational basis. The top line number saw an impact of 4% from COVID-19, reflecting disruption to wellness visits for patients in the US as well as lower demand for certain products in China.
On a reported basis, net income fell more than 30% to $3.4 billion, or $0.61 per share. On an adjusted basis, net income dropped 3% to $4.4 billion and EPS declined 2% to $0.78.
The company raised its guidance for fiscal year 2020 and now expects revenues to be $48.6-50.6 billion and adjusted EPS to be $2.85-2.95.
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