Home Stocks Pfizer Inc, Intercontinental Exchange Report Earnings

Pfizer Inc, Intercontinental Exchange Report Earnings

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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’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.

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