Pfizer Reports Better-Than-Expected Q4, Shares Dip Lower

Shares of Pfizer Inc. PFE were trading lower by around 0.5 percent early Tuesday morning after the company reported its fourth quarter results.

Pfizer earned $0.53 per share in the fourth quarter on revenue of $14.05 billion. Wall Street analysts were expecting the company to earn $0.52 per share on revenue of $13.56 billion.

Pfizer noted that its fourth quarter revenue reflects a 14 percent operational growth, driven by 22 percent operational growth in its Innovative Products business.

For the full fiscal year, Pfizer earned $2.20 per share on revenue of $48.9 billion.

Ian Read, Chairman and Chief Executive Officer, stated, "The just completed year was very productive in terms of business momentum, pipeline advancement and business development activity. I am particularly pleased with the performance of our Prevnar 13 adult and Ibrance launches in the U.S. In addition, Eliquis, Xeljanz and the Hospira portfolio, among other assets, along with operational growth in emerging markets, meaningfully enhanced the strength of our businesses."

Pfizer issued initial fiscal 2016 guidance and expects to earn $2.20 to $2.30 per share on revenue of $49 billion to $51 billion. Wall Street analysts were already projecting the company to earn $2.36 per share on revenue of $52.5 billion.