--> PFE +1.6% pre market very low volume
Pfizer beats by $0.09, beats on revs; raises FY15 guidance
- Reports Q3 (Sep) earnings of $0.60 per share, excluding non-recurring items, $0.09 better than the Capital IQ Consensus of $0.51; revenues fell 2.2% year/year to $12.09 bln vs the $11.57 bln Capital IQ Consensus; increased 6% operationally, which includes $0.3 billion reflecting one month of Legacy Hospira U.S. Operations; 4% ex-Hospira.
- Operational revenue growth in developed markets was driven primarily by the performance of several key products, including Prevnar 13 in adults, Ibrance and Eliquis -- all products that are early in their life cycles -- as well as from Lyrica primarily in the U.S., and the inclusion of one month of legacy Hospira U.S. operations. In emerging markets, revenues increased 5% operationally, reflecting continued strong operational growth, primarily from the Innovative Products business.
- Co issues upside guidance for FY15, raises EPS to $2.16-2.20 from $2.04-2.10 vs. $2.08 Capital IQ Consensus; raises es FY15 revs to $47.5-48.5 bln from $46.5-47.5 bln vs. $47.56 bln Capital IQ Consensus Estimate.
- Results reflect Pfizer's operations as well as one month of legacy Hospira U.S. operations but do not include any financial results from legacy Hospira international operations.