Investing.com - U.S. pharmaceutical giant Pfizer (NYSE:PFE) reported better-than-expected second quarter earnings ahead of Tuesday’s opening bell, sending its shares higher in pre-market trade.
Pfizer said adjusted earnings per share came in at 58 cents in the second quarter, above expectations for adjusted earnings of 57 cents per share.
The company’s second quarter revenue totaled $12.8 billion, beating forecasts for revenue of $12.5 billion.
Ian Read, Chairman and Chief Executive Officer, stated, “I am pleased with our operating performance to date.”
“I continue to see Pfizer as well positioned to effectively execute on our strategy to further strengthen each of our businesses on a global basis and deliver value to all of our stakeholders,” Mr. Read concluded.
Pfizer said it expected full-year adjusted revenue to come in a range between $48.7 billion and $50.7 billion, compared to expectations for full-year revenue of $49.4 billion.
Following the release of the report, shares in Pfizer (NYSE:PFE) rose 1.4% in pre-market trade.
Meanwhile, the outlook for U.S. equity markets was higher. The Dow indicated a gain of 0.2% at the open, the S&P 500 pointed to an increase of 0.15%, while Nasdaq 100 added 0.2%.