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Pfizer earnings top Wall Street estimates but outlook disappoints
USA Today

U.S. pharmaceutical giant Pfizer (PFE) Tuesday reported fourth-quarter earnings that topped Wall Street estimates, powered by strong sales of several of the company’s key drugs.

However, the New York-based firm also issued a lower than expected financial forecast for 2016, based in part on adverse changes in foreign exchanges rates relative to the U.S. dollar.

Pfizer shares were down 1.72% at $29.65 in morning trading.

Pfizer reported fourth-quarter net income of $613 million, or 10 cents a share, compared to net income of $1.23 billion, or 19 cents a share, a year ago.