PFE - Pfizer's Q4 Results 2020 Guidance Leave Investors Cold
Pharmaceutical giant Pfizer (NYSE: PFE) reported fourth-quarter results Tuesday that beat expectations for revenue, but missed on the bottom line. That miss, combined with weak profit guidance, helped propel shares lower. The stock was trading down by more than 5% as of 3 p.m.
Revenue, which was diminished by the spinoff of its consumer healthcare business in the third quarter, fell 9% to $12.69 billion, but that was better than the analysts' consensus estimate of $12.61 billion. Excluding the impact of the divestiture, revenue grew 2% operationally. Adjusted earnings per share fell 13% to $0.55, compared with analysts' consensus forecast of $0.57.
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