Stocks

Pfizer Inc, Intercontinental Exchange Report Earnings

Pfizer and Intercontinental Exchange released their latest earnings reports before opening bell this morning. Pfizer posted adjusted earnings of 61 cents per share on $13.045 billion in sales for the third quarter. Analysts had been expecting earnings of 62 cents per share and $13.055 billion in revenue. In last year’s third quarter, the drug maker reported $12.087 billion in revenue and adjusted earnings of 60 cents per share.

Intercontinental Exchange posted earnings of $3.21 per share on $1.1 billion in revenue, compared to the consensus estimates of $3.22 per share and $1.08 billion in revenue.

Pfizer’s earnings fall

Pfizer

Pfizer’s GAAP earnings per share fell to 21 cents from 34 cents per share. Revenue from sales of Prevnar amounted to $1.54 billion, compared to the consensus of $1.46 billion. Innovative Health revenue grew 9% to $7.332 billion, while Essential Health revenue increased 7% to $5.712 billion. Ibrance revenue came in at $550 million, compared to the $548.4 million analysts had been expecting.

The company also announced that it has decided to discontinue the development of its PCSK9 inhibitor bococizumab, which was being studied as a treatment for high cholesterol. Pfizer now expects its full-year adjusted earnings to be between $2.38 and $2.43, which is short of consensus at $2.46 per share. The drug maker expects full-year revenue to be between $52 billion and $53 billion, compared to the consensus of $53.1 billion.

Shares of Pfizer slumped in premarket trades, falling by as much as 2.71% to $30.85.

Intercontinental Exchange shares little changed

Intercontinental Exchange’s GAAP earnings grew 4% year over year to $2.86 per share. Interactive Data and Trayport revenues were $261 million, while trading and clearing segment revenues were $473 million. Data and listing segment revenues were $595 million, including $489 million in data services revenues.

For the full year, Intercontinental Exchange expects non-GAAP data services revenue to grow by 6% to 7% year over year. On a GAAP basis, the company expects the segment’s revenue to skyrocketed by 125% to 126%.

Shares of Intercontinental Exchange edged lower by as much as 0.14% to $270 per share in premarket trading this morning.