UPDATE: Pfizer Posts Upbeat Q1 Profit
Pfizer Inc (NYSE: PFE) reported a 19% drop in its first-quarter net income.
Pfizer's quarterly net income dropped to $1.79 billion, or $0.24 per share, from $2.22 billion, or $0.28 per share, in the year-ago quarter. Its adjusted earnings came in at $0.58 per share.
Pfizer's revenue declined to $15.41 billion from $16.5 billion. However, analysts were expecting earnings of $0.56 per share on revenue of $15.46 billion.
Pfizer shares dropped 0.66% to $22.75 in pre-market trading.
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