Investing.com - U.S. pharmaceutical giant Pfizer reported better-than-expected third quarter earnings ahead of Tuesday’s opening bell, sending its shares higher in pre-market trade.
Pfizer said adjusted earnings per share was $0.57 cents in the third quarter, above expectations for adjusted earnings of $0.55 cents per share.
The company’s third quarter revenue totaled $12.36 billion, beating forecasts for revenue of $12.26 billion.
Ian Read, Chairman and Chief Executive Officer, stated, "Our key in-line products continued to perform well with our most recent product launches exhibiting further momentum during the quarter."
Pfizer said it expected full-year adjusted revenue to come in a range between $48.7 billion and $49.7 billion, compared to a previous range forecast of $48.7 billion to $50.7 billion.
Following the release of the report, shares in Pfizer Inc (NYSE:PFE) rose 1.8% in pre-market trade.
Meanwhile, U.S. stock futures pointed to a mildly higher open. The Dow futures indicated a gain of 0.45% at the open, the S&P 500 futures pointed to a rise of 0.55%, while Nasdaq 100 futures advanced 0.6%.