New York: Pfizer Inc cut its 2015 sales forecast as the dollar’s strength cuts into sales outside the US.
Earnings will hit $1.95 to $2.05 a share, Pfizer said in a statement Tuesday, compared with an earlier forecast of $2 to $2.10. Analysts had projected $2.07 a share. The company also reduced its sales forecast to a range of $44 billion to $46 billion, compared with the $45.9 billion average estimate.
The reduced forecast overshadowed first-quarter results that surpassed analysts’ estimates. Earnings of 51 a share topped the average projection of 50 cents, according to data compiled by Bloomberg. First-quarter sales of $10.9 billion compared with analysts’ projections of $10.8 billion.
