Shares of Pfizer Inc. PFE,
declined 0.6% in pre-sales trading on Tuesday, after the drugmaker reported a fourth-quarter profit that missed expectations but the revenue that beat forecasts and an optimal year-round outlook delivered. In the previous year, the company switched to a net income of $ 594 million, or 10 cents per share, from a net loss of $ 337 million, or 6 cents per share. Excluding one-time items, adjusted earnings per share rose to 36 cents from 36 cents, but missed the 50-cent FactSet consensus. Revenue rose 12% to $ 11.68 billion, above the $ 11.48 billion FactSet consensus. Revenue for vaccines increased by 17%, for oncology increased by 23% and for rare diseases by 26%, while revenue increased by 1% for internal medicine and by 8% for hospitals. Pfizer increased its 2021 EPS lead range to $ 3.10 to $ 3.20 from $ 3.00 to $ 3.10, mainly during additional refinement of the COVID-19 revenue forecast. The company expects revenue of $ 59.4 billion to $ 61.4 billion by 2021, above the current FactSet consensus of $ 58.3 billion. The stock has risen 4.3% over the past three months, while the S&P 500 SPX,
it increased by 14.0%.
