NEW YORK (AP) _ Pfizer Inc. (PFE) on Tuesday reported third-quarter profit of $7.68 billion.
The New York-based company said it had profit of $1.36 per share. Earnings, adjusted for non-recurring gains and to account for discontinued operations, came to 75 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share.
The drugmaker posted revenue of $12.68 billion in the period.
Pfizer expects full-year earnings in the range of $2.94 to $3 per share, with revenue in the range of $51.2 billion to $52.2 billion.
Pfizer shares have decreased 15% since the beginning of the year, while the Standard & Poor’s 500 index has increased 21%. The stock has declined 13% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PFE at https://www.zacks.com/ap/PFE
The Associated Press
