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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • Pfizer Quarterly Earnings Drop 10% 0 comments
    Jul 30, 2013 10:21 AM | about stocks: PFE

    Originally published at

    Pfizer (NYSE:PFE) announced its second quarter financial results, reporting a revenue decrease of 7% to $12.97B. The company's earnings decreased 10%, from $4.45B a year ago this quarter to now $4.00B. Earnings per share fell $0.03 from $0.59 per share to $0.56 per share. Pfizer's revenue of $12.97B fell just short of the $13.02B expected by analysts, with the 7% decrease credited to a 4% decline in operations and a 3% impact from foreign exchange rates. Pfizer, along with other pharmaceutical companies, is trying to steer its business away from slow-growth operations. The company plans to separate its commercial operations into three business units and analysts are hoping the company will also spin-off its generics business, though that is unlikely before 2016. CEO Ian Read remarked that the company is positioning itself for long-term success and reaffirmed the annual earnings forecast of $2.10 to $2.20 earnings per share.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: PFE
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