Pfizer Inc. Shares PFE,
fell 0.6% in premarket trading on Tuesday after the drug maker reported fourth-quarter earnings that had no expectations, but revenue exceeded forecasts and offered an optimistic year-round outlook . The company earned a net profit of $ 594 million (10 cents per share) from a net loss of $ 337 million (6 cents per share) in the prior year period. Excluding non-recurring items, adjusted earnings per share increased from 42 cents to 36 cents, but lost the FactSet consensus by 50 cents. Revenue rose 12% to $ 11.688 billion, surpassing the $ 11.48 million FactSet consensus. Revenues from vaccines increased by 17%, for oncology by 23% and for rare diseases by 26%, while revenues increased by 1% for internal medicine and increased by 8% for in hospitals. Pfizer increased its 2021 EPS targeting range from $ 3.10 to $ 3.20, from $ 3.00 to $ 3.10, primarily on further refinements of its COVID-19 vaccine revenue forecast. The company expects revenue from 2021 of $ 59.4 billion to $ 61.4 billion, above the current FactSet consensus of $ 58.3 billion. Shares have risen 4.3% in the past three months, while the S&P 500 SPX,
has advanced 14.0%.