UPDATE: Pfizer Posts Upbeat Q4 Profit - Pfizer (NYSE:PFE)

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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.

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