NEW YORK (AP) _ Pfizer Inc. (PFE) on Tuesday reported first-quarter earnings of $3.4 billion.
The New York-based company said it had net income of 61 cents per share. Earnings, adjusted for non-recurring costs, came to 80 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 71 cents per share.
The drugmaker posted revenue of $12.03 billion in the period.
Pfizer expects full-year earnings in the range of $2.82 to $2.92 per share, with revenue in the range of $48.5 billion to $50.5 billion.
Pfizer shares have fallen slightly more than 2% since the beginning of the year, while the Standard & Poor’s 500 index has fallen 11%. The stock has declined slightly more than 3% in the last 12 months.
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