Pfizer (PFE) reported revenues of ~$12.9 billion for 2Q17, which was ~2% lower than its revenues of ~$13.2 billion in 2Q16. The company missed Wall Street analysts’ 2Q17 estimate for revenues, reporting revenues of ~$12.9 billion for 2Q17, compared with the estimate of ~$13.1 billion.
Analysts’ estimates for 3Q17
Wall Street analysts estimate that Pfizer’s revenues will reach ~$13.2 billion in 3Q17, which would be 1.1% higher than its revenues of ~$13.04 billion in 3Q16. The growth is expected to be driven by innovative health products and partly impacted by lower sales of essential health products and Hospira products.
Performance in last quarter
Pfizer reported a fall in its revenues in 2Q17. This fall was mainly driven by the 2% negative impact of foreign exchange, while operating revenues were nearly flat for 2Q17 YoY (year-over-year). The decline in revenues was mainly driven by lower sales of Hospira products.
If we exclude Hospira products, Pfizer reported operational growth of 2% in revenues for 2Q17, mainly driven by the strong performance of key innovative health drugs including Eliquis, Ibrance, Lyrica, and Xeljanz. These gains were substantially offset by lower sales of its essential health products.
Pfizer’s revenues from US markets fell marginally to $6.34 billion in 2Q17, compared with its revenues of $6.37 billion in 2Q16. Its revenues from outside US markets fell 3% YoY to $6.55 billion in 2Q17.