NEW YORK (AP) - Pfizer's second-quarter net income more than quadrupled, helped by the sale of its animal health business.
NEW YORK (AP) — Pfizer's second-quarter net income more than quadrupled, helped by the sale of its animal health business.
The drug company earned $14.1 billion, or $1.98 per share. That compares with $3.25 billion, or 43 cents per share, a year earlier.
Excluding a gain related to the sale of its remaining stake in Zoetis Inc. and other one-time items, earnings were 56 cents per share, a penny better than Wall Street had expected.
Revenue fell 7 percent to $12.97 billion from $14 billion partly due to generic competition and the loss of exclusivity on Lipitor in Europe. That's just short of the $13.21 billion analysts were expecting.
The New York company maintained its full-year adjusted earnings outlook of $2.10 to $2.20 per share. Analysts forecast $2.16 per share.