Shares of Pfizer Inc. PFE,
fell 0.6% in premarket trading on Tuesday after the drugmaker reported a fourth-quarter profit that missed expectations, but revenues that exceeded forecasts and provided an optimistic outlook for the full year. The company had net income of $ 594 million, or 10 cents a share, from a net loss of $ 337 million, or 6 cents a share, a year ago. With the exception of non-recurring items, earnings adjusted per share increased from 36 cents to 42 cents, but missed the FactSet consensus by 50 cents. Revenue rose 12% to $ 11.68 billion, surpassing the $ 11.48 billion FactSet consensus. Revenues for vaccines increased by 17%, for oncology they increased by 23%, and for rare diseases they increased by 26%, while revenues increased by 1% for internal medicine and increased by 8% for hospital. Pfizer raised its EPS 2021 guidance range to $ 3.10 – $ 3.20, from $ 3.00 to $ 3.10, primarily for further improvements in its revenue forecast from the COVID-19 vaccine. The company expects revenue from 2021 of $ 59.4 billion to $ 61.4 billion, above the current FactSet consensus of $ 58.3 billion. The stock has gained 4.3% in the last three months, while the S&P 500 SPX,
advanced by 14.0%.