Chantix Maker Pfizer's Net Profit Beats Prediction
Date: 24 th January 2008
With the Chantix manufacturer Pfizer Inc.`s fourth quarter earnings touching the mark of 42 cents a share, the company's net profit has reportedly surpassed the expectations raised by Wall Street journal. Further, it is apparent that Pfizer's fourth quarter income has been able to beat analysts` expectations by 5 cents a share. As soon as Pfizer's net fourth quarter income details are revealed, Jeff Kindler, chief executive officer of the company pronounces that the performance shown by Pfizer reveals its financial and operating strength and altogether highlights the company's resolve to achieve its goal in the competitive market environment.
However, according to sources, Pfizer, the maker of the quit smoking drug Chantix reported its fourth quarter earnings a year back to be $9.45 billion ($1.32 per share) but now the 4 th quarter earnings of the company have been increased to $2.88 billion ( 42 cents per share). After this revelation, it has become evident that even though the company's fourth quarter earnings this year are 70 percent less than the previous year's earnings, Pfizer's total income in the fourth quarter, this year, has been able to beat Wall Street predictions.
Altogether, Pfizer Incl. has raised its overall sales expectation for 2008 stating that the company now is hopeful of achieving drug sales within the range $47 billion to $49 billion while earlier it expected to achieve sales within $46.5 billion to $48.5 billion only.