Business

Weak outlook from Pfizer overshadows 4Q performance

Posted January 29, 2019 6:00 am

The Associated Press

NEW YORK (AP) - Pfizer's strong profit for the fourth quarter is being overshadowed by a tepid outlook for the year.

The drugmaker on Tuesday had a loss of $394 million, or 7 cents per share. Adjusted for non-recurring costs and costs related to mergers and acquisitions, however, per-share earnings were 64 cents per share, a penny better than expected, according to a survey by Zacks Investment Research.

Revenue was $13.98 billion.

Pfizer Inc. expects full-year earnings in the range of $2.82 to $2.92 per share. Industry analysts have been expecting annual per-share earnings of $3.04.

Shares are down more than a percent before the opening bell.

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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

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