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How Will Pfizer (PFE) Stock React to Q2 Earnings, Revenue Beat?

NEW YORK (TheStreet) -- Shares of Pfizer (PFE) are declining 0.83% to $37 in pre-market trading on Tuesday despite reporting 2016 second-quarter earnings and revenue that were above analysts' expectations.

Before the market open, the New York City-based biopharmaceutical company reported adjusted earnings of 64 cents per share, beating analysts' estimates of 62 cents per share.

Revenue rose 11% year-over-year to $13.15 billion and topped analysts' projections of $13.01 billion.

Pfizer's results were driven by sales of newer drugs and the $16 billion purchase of hospital products company Hospira in September.