Boston, MA 08/01/2013 (wallstreetpr) – During the last trading session, it was expected that Pfizer Inc (NYSE:PFE) would post the revenue of about $ 13.01 billion with the earnings per share of $ 0.55. However, the company could manage to beat up only on the bottom line while missing to do so, on the top. Pfizer Inc has reported sales of about $ 12.97 billion with the earnings per share of $ 0.59. The shares were continued to be at higher despite the small piece of miss in the sales as the management of Pfizer Inc has announced that the company will hit the whole year guidance of EPS which ranges from $ 2.10 to $ 2.20.
In addition to this, the CEO of Pfizer Inc has made an announcement that the company would be re-structured into 3 business units. Out of these 3 business units, one unit will be responsible for the production of generic drugs while the other two will be having its focus on the branded products. Following this announcement, the shares of Pfizer Inc have jumped by 1.8% and are leading the sluggish index for the day. Few people believe that this move by the company might be setting the foundation for spinning off the company’s generic drugs in the near future.
The market capitalization of Pfizer Inc was $ 207.33 billion. It is anticipated that Pfizer Inc will be reporting its second quarter results for the fiscal year 2013 which would show the earnings per share as 42 cents and the revenue being $ 13.04 billion. This is in comparison with the gain of 43 cents for each share over the revenue of $ 15.06 billion during the last year. At present, the shares of Pfizer Inc are trading at the price of about $ 29.21 for each share. The stock of the company has made a profit of 16.6% so far during this year.
