Pfizer Beats Estimates as Investors Await Potential Breakup
This article is for subscribers only.
Pfizer Inc., the world’s biggest drugmaker, reported third-quarter profit that beat analysts’ estimates as the company cut costs and sales of its top vaccine and pain drugs increased.
Earnings excluding one-time items were 58 cents a share, 2 cents more than the average of 16 analysts’ estimates compiled by Bloomberg. New York-based Pfizer raised the lower end of its full-year forecast range, excluding certain items, narrowing it to $2.15 to $2.20 a share from $2.10 to $2.20 per share.