Business

Pfizer tops earnings expectations

Posted October 27, 2020 7:00 am

The Associated Press

NEW YORK (AP) - Pfizer is reporting a third-quarter profit of $2.19 billion.

On a per-share basis, the New York company said it had profit of 39 cents. Earnings, adjusted for non-recurring costs, came to 72 cents per share, beating Wall Street expectations by 2 cents, according to a survey by Zacks Investment Research was for earnings of 70 cents per share.

Revenue was $12.13 billion.

Pfizer expects full-year earnings in the range of $2.88 to $2.93 per share, with revenue in the range of $48.8 billion to $49.5 billion.

Pfizer shares have decreased 3% since the beginning of the year, while the Standard & Poor's 500 index has increased slightly more than 5%. The stock has climbed 4% in the last 12 months.

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A portion of 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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