As a semi-retired investor, I need to accumulate shares that produce current income and are poised to grow dividends enough to overcome inflation. As part of my income investing strategy, I buy shares on price pullbacks, dips, and quarterly shortfalls in financial expectations while the long-term fundamental picture remains attractive.
Pfizer Inc.'s (NYSE:PFE) revenues did not meet expectations in the last quarter reported on May 2; this got my attention as the stock price fell. Headline news reported the top-line revenue shortfall was the result of market exclusivity losses on the company's key drugs. While that is true, it is not the whole story. Revenues for the quarter were $12.78 billion versus expectations for $13.1 billion.
