Categories AlphaGraphs, Earnings, LATEST, Other Industries

Shares fall as Pfizer misses revenue expectations

Drug giant Pfizer Inc. (PFE) posted a 1% improvement in revenues of $12.9 billion for the first quarter of 2018. Reported net income jumped 14% to $3.5 billion, while adjusted net income grew 11% to $4.6 billion. Pfizer’s shares fell more than 2% in premarket trade following the release of the results.

Reported EPS rose 15% to $0.59, while adjusted EPS grew 12% to $0.77 compared to last year. While revenue fell short of Wall Street expectations, net income for the quarter topped the consensus.

During the quarter, Pfizer returned $8.1 billion to shareholders through dividends and share repurchases.

For the full year of 2018, Pfizer expects revenues of $53.5 billion to $55.5 billion and adjusted EPS of $2.90 to $3.00.

Pfizer Q1 2018 Earnings
Pfizer Inc. Q1 2018 Earnings Infographic

Pfizer’s quarterly results benefited from strength in anchor brands, primarily Ibrance, Eliquis, and Xeljanz. Revenues in the Innovative Health segment increased 6% to $7.8 billion while in the Essential Health segment, revenues dropped 5% to $5 billion.

The Essential Health business was negatively impacted by legacy Hospira product supply shortages in the US as well as product losses of exclusivity.

In April 2018, Pfizer announced that Trumenba received Breakthrough Therapy designation from the FDA for active immunization to prevent invasive disease caused by Neisseria meningitidis group B (MenB) in children aged one to nine. This is the first ‘Breakthrough Therapy’ designation for a MenB vaccine to help protect children as young as one year of age.

Most Popular

GameStop (GME) Earnings: Q1 loss narrows on 25% sales growth

Video game retailer GameStop Corp. (NYSE: GME), which has become the talk of the town after the unprecedented stock rally in recent weeks, reported a narrower loss for the first

Should you invest in Steel Dynamics (STLD) stock after 78% rally?

The steel industry managed to shrug off the pandemic blues earlier than expected as the recovery in industrial activity pushed up demand. With the vaccination drive and the government’s aggressive

Campbell Soup (CPB) Q3 Earnings: Key financials and quarterly highlights

Campbell Soup Company (NYSE: CPB) reported third-quarter 2021 earnings results today. Net sales decreased 11% year-over-year to $1.98 billion, as a result of lapping the demand surge at the onset

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top