UPDATE: Pfizer Posts Upbeat Q4 Profit
Pfizer (NYSE: PFE) reported a drop in its fiscal fourth-quarter profit.
Pfizer's quarterly profit declined to $2.57 billion, or $0.39 per share, from a year-ago profit of $6.32 billion, or $0.85 per share. Its adjusted profit climbed to $0.56 from $0.46 per share.
Its revenue dropped 2% to $13.56 billion versus $13.89 billion. However, analysts were estimating earnings of $0.52 per share on revenue of $13.36 billion.
Pfizer projects 2014 adjusted earnings of $2.20 to $2.30 per share on revenue of $49.2 billion to $51.2 billion.
Pfizer shares gained 1.62% to $30.14 in pre-market trading.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.