Pfizer raised its financial targets for the year as the drugmaker reported better-than-expected quarterly results
By Patrick Thomas Oct. 29, 2019 7:22 am ET Pfizer Inc. PFE 1.39% raised its financial targets for the year on Tuesday as the company reported better-than-expected quarterly results, lifted by higher sales in its biopharmaceutical business.
The company posted a third-quarter profit of $7.68 billion, or $1.36 a share, compared with $4.11 billion, or 69 cents a share, a year ago. Revenue fell to $12.68 billion from $13.3 billion a year earlier. Analysts polled by FactSet had expected $12.26 billion of revenue in the quarter.
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