January 30, 2018 / 12:02 PM / 6 months ago

Pfizer reports $11 bln gain from new tax law

Jan 30 (Reuters) - Pfizer Inc’s quarterly profit jumped almost 16 times compared to a year ago on Tuesday, as the largest U.S. drugmaker booked an $11 billion gain from the new tax law.

The company said its net income surged to $12.27 billion, or $2.02 per share, in the fourth quarter, from $775 million, or 13 cents per share, a year earlier.

The drugmaker said it gained $11.34 billion from the new tax law, signed into law by President Donald Trump last month.

Revenue rose to $13.70 billion from $13.63 billion.

Reporting by Divya Grover in Bengaluru; Editing by Sriraj Kalluvila

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below