Pfizer Inc. Q1 Profit Decreases, but beats estimates

(RTTNews) - Pfizer Inc. (PFE) announced earnings for first quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $3.12 billion, or $0.55 per share. This compares with $5.54 billion, or $0.97 per share, in last year's first quarter.

Excluding items, Pfizer Inc. reported adjusted earnings of $4.67 billion or $0.82 per share for the period.

Analysts on average had expected the company to earn $0.52 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 19.5% to $14.88 billion from $18.49 billion last year.

Pfizer Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $3.12 Bln. vs. $5.54 Bln. last year. -EPS (Q1): $0.55 vs. $0.97 last year. -Revenue (Q1): $14.88 Bln vs. $18.49 Bln last year.

-Guidance: Full year EPS guidance: $2.15 - $2.35 Full year revenue guidance: $58.5 - $61.5 Bln