Pfizer posts big jump in 4Q sales, profit
NEW YORK - February 3, 2010 -- Pfizer Inc., fresh from its mega-acquisition of fellow drugmaker Wyeth, posts a big jump in revenue that beats Wall Street expectations, but its profit comes up a tad short.
The maker of Viagra and cholesterol fighter Lipitor says its revenue in the fourth quarter comes to $16.54 billion, That's half a billion above what analysts were expecting as the recession continues to reduce sales of even prescription medicines.
Pfizer says its net income amounts to $767 million, nearly triple what it earned a year earlier because of its $68 billion Wyeth acquisition. That's equal to earnings per share of 10 cents, or 49 cents after excluding one-time items.
Analysts polled by Thomson Reuters were expecting Pfizer to earn 50 cents per share.
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