Pfizer’s Q1 Net Rises, Beating View; Revenue Forecast Cut (PFE)

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Pharma giant Pfizer Inc. ( PFE ) on Tuesday said its first quarter profit jumped 10% from last year on lower costs, but cut its full-year revenue forecast for a second time.

The New York-based company reported first quarter net income of $2.22 billion, or 28 cents per share, compared with $2.03 billion, or 25 cents per share, in the year-ago period. Excluding one-time items, adjusted profit was 60 cents per share.

Revenue fell 0.5% from last year to $16.5 billion.


On average, Wall Street analysts expected a smaller profit of 58 cents per share, albeit on slightly higher revenue of $16.59 billion.

Looking ahead, the company maintained its 2011 profit forecast $2.16 to $2.26 per share, excluding items, but lowered its revenue projection to $66.2 billion from to $67 billion. It also cut its 2012 revenue forecast for a second time, to $63.5 billion from $64.25 billion.

Pfizer shares fell 38 cents, or -1.8%, in premarket trading Tuesday.

The Bottom Line
We have been recommending shares of Pfizer ( PFE ) since Mar.17, 2011, when the stock was trading at $19.30. The company has a 3.81% dividend yield, based on last night's closing stock price of $21.02.

Pfizer Inc. ( PFE ) is a "Recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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