Pfizer's Sales Sank 8% in Q1. Here's Why Some Investors Liked the Results Anyway.
At first glance, Pfizer's (NYSE: PFE) first-quarter results weren't anything to smile about. The big drugmaker provided its Q1 update before the market opened on Tuesday. Pfizer reported Q1 revenue of $12 billion, down 8% year over year. The company's earnings slid 12% to $3.4 billion.
Those kinds of numbers wouldn't typically make investors happy. But some investors actually liked Pfizer's Q1 results despite the declining revenue and earnings, with the big pharma stock even rising at the market open on Tuesday. Here are three reasons why.
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Source Fool.com
