Investing.com - U.S. pharmaceutical giant Pfizer (NYSE:PFE) reported better-than-expected second quarter earnings ahead of Tuesday’s opening bell, sending its shares higher in pre-market trade.
Pfizer said adjusted earnings per share came in at 56 cents in the three months ended June 30, above expectations for adjusted earnings of 52 cents per share.
The company’s second quarter revenue totaled $11.9 billion, beating forecasts for revenue of $11.42 billion.
Ian Read, Chairman and Chief Executive Officer, stated, "Our second-quarter and year-to-date financial performance is the result of continued business momentum, driven by solid execution of recent product launches in our Innovative Products business."
Pfizer raised midpoint of 2016 revenue by 3 cents due to strong performance to date and an improved business outlook.
Following the release of the report, shares in Pfizer rose 1.77% in pre-market trade to $34.99 compared to Monday's closing price of $34.38.
Meanwhile, U.S. stock futures pointed to a mildly higher open. The Dow futures indicated a gain of 0.45% at the open, the S&P 500 futures pointed to a rise of 0.55%, while Nasdaq 100 futures advanced 0.6%.