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Why Pfizer's Shares Sank Today

TheMotleyFool

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Shares of Pfizer (NYSE: PFE) were sinking by 5.4% as of 3:05 p.m. EST on Tuesday after the big drugmaker announced its 2019 fourth-quarter and full-year earnings results before the market open. Pfizer reported Q4 revenue of $12.7 billion, down 9% year over year. The company's adjusted earnings also dropped to $3.1 billion, or $0.55 per share, from $3.75 billion, or $0.63 per share, in the prior-year period.

Pfizer also provided full-year 2020 guidance, projecting revenue between $48.5 billion and $50.5 billion with adjusted diluted earnings per share between $2.82 and $2.92. Both ranges were below consensus Wall Street estimates.

Image source: Getty Images.

Source Fool.com

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