Drugmaker Pfizer posts 9 percent jump in 2Q profit

[August 03, 2010]  NEW YORK (AP) -- Pfizer Inc. posts a 9 percent increase in second-quarter profit, trouncing Wall Street expectations as its revenue jumped sharply due to its mega-acquisition of fellow drugmaker Wyeth last October.

The maker of cholesterol blockbuster Lipitor and impotence pill Viagra says net income was $2.48 billion, or 31 cents per share, up from $2.26 billion a year earlier. Earnings per share was 34 cents in the year-ago period.

Pfizer, the world's biggest drugmaker by sales, says revenue totaled $17.33 billion, up 58 percent from $10.98 billion in 2009's second quarter.

Excluding one-time items, income was $4.96 billion, or 62 cents a share.

Analysts were expecting earnings per share of 52 cents on revenue of $16.65 billion.

[Associated Press]

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