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Pfizer tops Q4 hopes but lowers guidance for 2016

Revenue rose to US$14.05bn from US$13.1bn, also ahead of expectations of around US$13.6bn.
Pfizer tops Q4 hopes but lowers guidance for 2016
Pfizer is merging with Allergan

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Pharma giant Pfizer (NYSE:PFE) beat expectations in its fourth quarter but tempered forecasts for the coming year.

The firm reported on Tuesday that fourth-quarter earnings halved compared to the previous year to US$61mln, or 10 cents per share (EPS), from US$1.22bn, or 19 cents per share.

However, the results include three months of legacy Hospira global operations, Pfizer said, and adjusted EPS was 53 cents per share, slightly ahead of hopes.

Revenue rose to US$14.05bn from US$13.1bn, also ahead of expectations of around US$13.6bn.

But for, 2016, the company said it expects "significant negative currency impact related to Venezuela."

Excluding the effects of its merger with Allergan, Pfizer said it expects adjusted EPS of US$2.20 to US$2.30, including the impact of currency headwinds, below estimates of US$2.38 per share.

Before the resumption of trading on Wall Street, shares were trading 1.7% lower in the pre-market trading, before nudging 0.77% higher in the regular session at US$30.21.

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November 23 2015

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