Pfizer Profit Matches Estimates as Forcast Range Narrows
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Pfizer Inc., the world’s biggest drugmaker, narrowed its 2012 forecast after reporting third-quarter earnings that met analyst estimates and sales that fell short of expectations. The company also said it was buying back as much as $10 billion in shares.
Net income in the third quarter fell 14 percent to $3.21 billion, or 43 cents a share, from $3.74 billion, or 48 cents, a year earlier, New York-based Pfizer said today in a statement. Earnings excluding one-time items matched the 53 cents average of 16 analyst estimates compiled by Bloomberg.