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Pfizer reports earnings beat, revenue miss

May 2, 2017

Pfizer Inc. PFE, -2.28% reported a first-quarter profit beat and revenue miss early Tuesday. Earnings for the latest quarter rose to $3.12 billion, or 51 cents per share, from $3.04 billion, or 49 cents per share, in the year-earlier period. Adjusted earnings-per-share were 69 cents, compared with the FactSet consensus of 67 cents. Revenue rose to $12.78 billion from $13.01 billion, compared with the FactSet consensus of $13.09 billion. Pfizer said its latest results were affected by one less U.S. selling day and two fewer international selling days, compared to the year-earlier period. The latest results include some legacy operations from Hospira Infusion Systems, which Pfizer completed the sale of to ICU Medical ICUI, -0.19% in early February. Pfizer shares have surged 6.5% over the last three months, compared with a 4.7% rise in the S&P 500 SPX,

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