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Pfizer (PFE) Q1 Earnings Top, Biopharma Gains From Coronavirus
Pfizer, Inc. PFE reported first-quarter 2020 adjusted earnings per share of 80 cents, which beat the Zacks Consensus Estimate of 71 cents. Earnings however declined 5% year over year as lower revenues offset spending reductions.
The pharma heavyweight recorded revenues of $12.03 billion, which declined 8% from the year-ago quarter on a reported basis. On an operational basis, excluding the 1% negative impact of currency, revenues declined 7% year over year as higher sales of some key brands in Pfizer’s Biopharmaceuticals group were offset by revenue decline in the Upjohn segment and sales lost due to the spin-off of the Consumer Healthcare (CHC) unit. Meanwhile, first-quarter revenues included a net positive impact of approximately $150 million, or 1%, due to COVID-19.
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https://finance.yahoo.com/news/pfizer-pf...02461.html
![[Bild: PFEc1dl1630.png]](https://finviz.com/publish/042820/PFEc1dl1630.png)
Pfizer, Inc. PFE reported first-quarter 2020 adjusted earnings per share of 80 cents, which beat the Zacks Consensus Estimate of 71 cents. Earnings however declined 5% year over year as lower revenues offset spending reductions.
The pharma heavyweight recorded revenues of $12.03 billion, which declined 8% from the year-ago quarter on a reported basis. On an operational basis, excluding the 1% negative impact of currency, revenues declined 7% year over year as higher sales of some key brands in Pfizer’s Biopharmaceuticals group were offset by revenue decline in the Upjohn segment and sales lost due to the spin-off of the Consumer Healthcare (CHC) unit. Meanwhile, first-quarter revenues included a net positive impact of approximately $150 million, or 1%, due to COVID-19.
...
https://finance.yahoo.com/news/pfizer-pf...02461.html
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