Pfizer (PFE) Tops Earnings And Revenue

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Pfizer (NYSE: PFE)

Pfizer reported earnings for Q3 today as expected, and the results were a beat on all fronts. Today, we’ll take a look at the earnings report, the new guidance and what we can expect to see from PFE moving forward. So, let’s get right to it…

Pfizer Tops Revenue And Earnings

Pfizer investors are likely to be happy today. The company released their earnings report proving to top both top line revenue and earnings. In the case of revenue, analysts expected to see the company report $11.56 billion for the quarter. However, PFE actually produced $12.1 billion in revenue for the quarter. Earnings per share also came in above expectations. While analysts expected to see the company produce $0.51 per share in earnings for the quarter, the company actually reported earnings per share at $0.60.

Aside from earnings and revenue, investors will also be happy with guidance. Based on the strong quarter, Pfizer increased it’s guidance with regard to both earnings and revenue. Previously, the company expected full year earnings to come in between $2.04 per share and $2.10 per share. However, they have decided to increase those expectations to between $2.16 per share and $2.20 per share. When it comes to revenue, PFE expects to produce between $47.5 billion and $48.5 billion for the year. This is up $1 billion from previous expectations of $46.5 billion to $47.5 billion. In a statement Ian Read, CEO of PFE had the following to say…

Our business continues to demonstrate strength across key product lines and geographies which has resulted in another quarter of strong financial performance. We have been intently focused on seeking to generate a greater portion of our earnings from increased revenues and I see our product portfolio, product pipeline and recent business development activity as supporting this objective. Importantly, our research pipeline continues to advance with a focus on therapeutic areas of high unmet need where we also have seen advances in biology which could support the development of potential important new therapies to further strengthen our Established Products business, which has a strong presence in both sterile injectables and biosimilars. Overall, I see Pfizer as well positioned both financially and strategically to continue delivering value to patients and shareholders.”

How The Market Is Reacting To The News

While the market hasn’t opened quite yet, we are seeing strong pre-market activity as we would expect after the release of positive earnings. Currently (9:24), PFE is trading in the pre-market at $35.10 after a gain of $0.92 per share or 2.71%.

What We Can Expect To See Moving Forward

I’m expecting to see more positive news moving forward. The fact of the matter is that PFE is one of the strongest companies in the biotechnology space and continues to prove this with each earnings report. Between solid earnings, positive guidance and the knowledge that PFE has an unmatched team in the sector, I couldn’t imagine seeing declines on the stock any time soon.

What Do You Think?

Where do you think PFE is headed and why? Let us know your opinion in the comments below!

[Image Courtesy of International Business Times]

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Hey, Im Joshua, the founder of CNA Finance. I enjoy following the trends in the market and finding the catalysts that are making the moves. If you want to get in contact with me, leave a comment below or email me at CNAFinanceHelp@gmail.com Please keep in mind that I am not an investment advisor and nor is CNA Finance. This is a news and information gathering outlet. We may work directly with some of the companies that we write about. If we have a business relationship with an issuer, we will mention that in the articles. We also have various affiliate relationships with advertisers and may be paid if you sign up for a service that you were referred to through our website.

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