Pfizer Inc. (NYSE: PFE ) stock was on the move Tuesday following the release of its earnings report for the fourth quarter of 2016.
Revenue reported by Pfizer Inc. during the fourth quarter of the year was $13.63 billion. This is down from the $14.05 billion that the company reported during the same time last year. However, it did reach the $13.63 billion revenue estimate that Wall Street was looking for.
Pfizer Inc. reported earnings per share of 47 cents for the fourth quarter of 2016. The company's earnings per share from the fourth quarter o f 2015 was 53 cents. Analysts were expecting the company to report earnings per share of 50 cents for the fourth quarter of the year.
Pfizer Inc. reported net income of $775 million during the fourth quarter of the year. This is an increase over the biopharmaceutical company's net loss of $172 million reported during the same period of the year prior.
For the full year of 2017, Pfizer Inc. reported earnings per share of $2.40 and revenue of $52.82 billion. Wall Street was expecting the company's 2017 earnings per share to be $2.41 with revenue of $52.86 billion.
During its most recent earnings report, Pfizer Inc. also released its guidance for the full year of 2017. The company is expecting revenue for 2017 to be between $52 billion and $54 billion . Wall Street is looking for revenue of $54.03 billion for the year.
Pfizer Inc.'s guidance for earnings per share for the full year of 2017 ranges from $2.50 to $2.60. Analysts' estimates have the company reporting earnings per share of $2.57 for this period.
PFE stock was up slightly as of Tuesday morning following a drop shortly after markets opened.
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