Pfizer Inc. (NYSE: PFE) is having an interesting start in the pre-market hours today, and for good reason. The company released its earnings report, which proved to be a mixed bag of data. Of course, since the release, investors have been reacting, sending the value of the stock up early on, and most recently, down. As is normally the case, our partners at Trade Ideas were the first to alert us to the movement. At the moment (8:16), PFE is trading at $33.10 per share after a loss of $0.06 per share or 0.18% thus far today.
PFE Reports Q2 Earnings
As mentioned above, Pfizer is having an interesting start to the trading session in the pre-market hours, trading up early on and most recently down. The movement can largely be attributed to the results the company published with regard to the second quarter. Here’s what we saw…
- Earnings – In terms of earnings per share PFE definitely did not disappoint. During the quarter, it was expected that the company would generate adjusted earnings per share in the amount of $0.65. However, the company actually reported earnings in the amount of $0.67 per share.
- Revenue – While earnings proved to be positive, revenue was a cause for concern. While analysts expected that the company would generate revenue in the amount of $13.07 billion, they actually reported revenue in the amount of $12.90 billion.
- Guidance – Finally, guidance was positive. In fact, PFE increased its earnings per share guidance for the 2017 year from between $2.50 and $2.60 per share to between $2.54 and $2.60 per share.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on PFE. In particular, we’ll be keeping an eye on performance throughout the year, considering the strong guidance. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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