FX.co ★ Pfizer Inc. Q1 Profit Decreases, but beats estimates

Pfizer Inc., the pharmaceutical giant, recently publicized their lower-than-last-year first quarter earnings. Despite being lower than last year, the numbers surpassed the predictions made by industry analysts.

The company recorded earnings of $3.12 billion, equivalent to $0.55 per share, a considerable drop from last year's $5.54 billion or $0.97 per share during the same period. However, after adjusting for specific items, Pfizer's earnings for the period were reported to be $4.67 billion or $0.82 per share.

On average, industry analysts expected the company to report earnings of $0.52 per share, according to data compiled by Thomson Reuters. It's important to note that these estimates routinely exclude any extraordinary items.

In terms of revenue for the quarter, Pfizer recorded a 19.5% decrease to $14.88 billion, a fall from last year's $18.49 billion.

To summarize the key figures of Pfizer Inc.'s latest financial report, the corporation saw an earning of $3.12 billion, a EPS of $0.55, and revenue of $14.88 billion for the first quarter of the year.

In relation to their future financial outlook, Pfizer provided full-year EPS guidance within the range of $2.15 to $2.35 and projected their annual revenue to be between $58.5 and $61.5 billion.