Pfizer reduced profits by half in 2018


Pharmaceutical company Pfizer reduced its net profit in 2018 by half to $11.153 billion, according to financial statements. Earnings per share fell to $1.87 against $3.52 for the earnings period last year. The company's revenue rose 2% to $53.65 billion. The last quarter of the year brought Pfizer a loss of $394 million, while last year the company made a profit of $12.274 billion. The loss per share was $0.07 against a profit of $2.02 a year earlier. Revenues for the quarter increased by 2% to $13.976 billion, although analysts had expected the figure to be slightly lower - $13.899 billion. In 2019, plans to receive $52-54 billion in revenue. Experts had expected that the figure would be $54.3 billion. According to forecasts by Pfizer, earnings per share would be $2.82-2.92. Analysts' own forecast - $3.04 per share. Pfizer is one of the leaders in the pharmaceutical industry. The company was founded in 1849 in the United States.

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