Pharma giant Pfizer Inc. (
) on Tuesday said its first quarter profit jumped 10% from last
year on lower costs, but cut its full-year revenue forecast for a
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
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
Pfizer shares fell 38 cents, or -1.8%, in premarket trading
The Bottom Line
We have been recommending shares of Pfizer (
) 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. (
) is a "Recommended" dividend stock, holding a Dividend.com DARS™
Rating of 3.5 out of 5 stars.
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, as well as a detailed explanation of
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