NEW YORK (AP) — Pfizer is reporting strong first-quarter profits, but revenue is short of Wall Street expectations.
The New York company had a net income of $3.56 billion, or 59 cents per share. Earnings, adjusted for non-recurring costs, came to 77 cents per share, 3 cents better than industry analysts had expected, according to a survey by Zacks Investment Research.
Revenue was $12.91 billion, short of the $13.09 billion that analysts had projected,
The drugmaker expects full-year earnings between $2.90 and $3 per share, with revenue in the range of $53.5 billion to $55.5 billion.
Shares of Pfizer Inc. fell 3 percent before the opening bell Tuesday.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PFE at https://www.zacks.com/ap/PFE