NEW YORK (AP) _ Pfizer Inc. (PFE) on Wednesday reported second-quarter net income of $5.56 billion.

The New York-based company said it had net income of 98 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.07 per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 97 cents per share.

The drugmaker posted revenue of $18.98 billion in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $17.54 billion.

Pfizer expects full-year earnings in the range of $3.95 to $4.05 per share, with revenue in the range of $78 billion to $80 billion.

Pfizer shares have increased 14% since the beginning of the year, while the S&P's 500 index has risen 17%. The stock has climbed 12% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PFE at https://www.zacks.com/ap/PFE

Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News