Pfizer Profit Quadruples

Pfizer Profit Quadruples

The world’s leading drug maker announced Tuesday that its fourth-quarter profit more than quadrupled, in spite of the competition from generic drugs impacting sales. The profit is largely explained by the company’s $4.8 billion gain from selling its nutrition business.

Pfizer’s net income was $6.32 billion, or 85 cents per share, up from $1.44 billion, or 19 cents per share, a year earlier. Pfizer announced this year it expects earnings per share of $2.20 to $2.30, excluding one-time items, and revenue of $56.2 billion to $58.2 billion. Analysts are expecting $2.28 per share and revenue of $57.55 billion.

Pfizer, Inc. is an American multinational pharmaceutical corporation headquartered in New York City.

 

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