On Jan. 31st 2017, Pfizer Inc. announced financial results for the fourth quarter and full year 2016 including a 3% drop in revenue for the quarter and in the Essential Health segment.
Ian Read, Chairman and Chief Executive Officer, stated, “I was pleased with the company’s overall performance during 2016 and believe both of our businesses executed well despite a challenging operating environment. We generated attractive operational revenue and earnings growth driven by our major products within both the Innovative Health and Essential Health businesses.”
He continued, “In addition to strong business performance, we allocated our shareholders’ capital to a variety of value-creating initiatives that included company and product portfolio acquisitions, share repurchases, an increase in our dividend and ongoing funding for our R&D and commercial organizations.”
During the fourth quarter of 2016, Pfizer Inc. reported a 3% year-over-year drop in revenues of $13.6 billion, compared with $14.0 billion in fourth quarter of 2015.
Net income for the quarter totalled $775 million, compared with a loss of $172 million in the same period of 2015.
GAAP earnings per share was $0.13, versus a loss of $0.03 in the fourth quarter of last year. Non-GAAP diluted earnings per share (EPS) for the quarter was $0.47, up 11% from $0.53 in the fourth quarter of 2015.
In the fourth quarter, Innovative Health revenue increased by 2% year-over-year to $7.7 billion. The Essential Health segment generated $5.9 billion in revenues, down 6% year-over-year.
For the full year of 2016, Pfizer Inc generated revenue of $52.8 billion, compared with $48.9 billion in 2015, representing 8% year-over-year growth.
Net income for the year totalled $7.2 billion, up 4% from $7 billion in 2015.
GAAP earnings per share (EPS) for 2016 was $1.17, up 5% from $1.11 in 2015. Non-GAAP earnings per share (EPS) was $2.40, versus $2.20 in 2015, representing 9% growth.
In the full year of 2016, Innovative Health revenues increased 11% to $29.2 billion, while Essential Health also grew 11% year-over-year to $23.6 billion.
On Jun. 24, 2016, Pfizer acquired Anacor Pharmaceuticals, Inc. (Anacor). Financial results for fourth quarter and full year 2016 reflect three months and approximately six months of legacy Anacor operations.
On Sept. 28, 2016, Pfizer acquired Medivation, Inc. (Medivation). Financial results for fourth quarter and full-year 2016 reflect three months of legacy Medivation operations.
The Stock Market
As of 10:00 GMT on Feb. 9th 2017, Pfizer Inc. common stock (NYSE: PFE) is trading at 32.14 USD per share after a rise of 0.19 %. The highest weekly close was 32.34 USD.
Pfizer stock reached a monthly peak of 33.61 on Jan. 5th, yet dropped to 31.15 by Jan. 24th.
Analysts at top brokerage, GSI Markets, recommend trading Pfizer stock with caution during this period. Speak to a professional trader at GSI Markets to learn how they make the most profits on their trades.
See more at: Forex broker