NEW YORK (AP) — Pfizer is reporting a 9% jump in first quarter profit on a strong showing from its biopharmaceutical group.
The New York drugmaker on Tuesday reported earnings of .88 billion, or 68 cents per share. Earnings, adjusted for non-recurring costs, were 85 cents per share, far exceeding projections of 77 cents from Wall Street analysts, according to a survey by Zacks Investment Research.
Revenue was 3.12 billion.
Pfizer Inc. expects full-year earnings in the range of .83 to .93 per share, with revenue in the range of 2 billion to 4 billion.
Pfizer shares are moving higher before the opening bell.
Portions of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PFE at https://www.zacks.com/ap/PFE