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4/30, 12:49 PM (Source: TeleTrader)
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Pfizer-2.17%

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Chart for: Pfizer, Inc.

Pfizer posts revenue of $13.1B in Q1, up 2% YoY

Pharmaceutical giant Pfizer Inc. announced on Tuesday its revenue for the first quarter of 2019 amounted to $13.1 billion, marking a 2% increase compared to the same three-month period last year. The company said its earnings per share (EPS) reached a figure of $0.85, 13% higher than in the corresponding quarter in 2018. Additionally, Pfizer said its net income stood at $3.9 billion in the first quarter, 9% more annually.

The highest revenue was recorded in Biopharma and it amounted to $9.2 billion in the first quarter, increasing by 3% year over year. Meanwhile, Consumer Healthcare revenue amounted ot $858 million, down 5% on an annual basis. Pfizer adjusted its 2019 guidance, raising its revenue expectations from $52 billion to $54 billion and increasing the expected EPS to $2.93 from the original $2.83.

"Our first-quarter 2019 financial results were strong, driven by continued strength from certain Biopharma brands... Our new commercial structure is designed to maximize today’s revenue growth opportunities while transitioning the company to a period post-2020 where we expect sustained mid-single-digit operational revenue growth through 2025," Pfizer Chief Executive Officer Dr. Albert Bourla stated.

Following the release of the quarterly earnings, Pfizer shares jumped 1.41% in Tuesday's premarket trading.

Breaking the News / SS