Pfizer Misses on Earnings, Forecasts 2017 Sales Below Analysts' Estimates
Pfizer's quarterly earnings missed estimates, and it gave guidance for lower sales this year.
Pfizer (PFE) - Get Report delivered an earnings miss in its latest quarter, and the drugmaker also forecast that 2017 sales will be below analysts' projections.
Earnings for the fourth quarter came in at 47 cents a share, 3 cents shy of what analysts were forecasting. Revenue in the quarter totaled $13.6 billion, which was in line with estimates, but the drug company gave lower guidance for this year.
Pfizer's CEO Ian Read described 2016 as a challenging operating environment, and added that 2017 will bring competition in the generics market.
