PFE beat earnings estimates, but fell short on revenue
Pfizer Inc. (NYSE:PFE) is slipping in pre-market trading
after announcing earnings that beat estimates on the bottom line, but missed on
the revenue side. If you’re looking for growth, stay away from PFE stock. But
if you’re looking to scoop up a dividend at a discount, Pfizer stock is for
you.
Adjusted income was $4.19 billion, 69 cents per share, on
revenue of $12.78 billion. This compared with net income of $4.17, 67 cents per
share, and revenue of $13.01 billion during the same quarter a year ago.
Earnings beat analyst estimates by 2 cents per share, and
even beat the “whisper number” of 68 cents. The revenue number, however, was
well below the estimate of $13.05 billion, and even below last year’s figure.
As a result, PFE stock lost 35 cents per share, after
dropping another 35 cents in trading on May 1. For those who buy stocks for
capital appreciation, Pfizer once again proved a name to avoid.
I lime PFE to. I bought some for myself back in February. Great dividend stock.
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