Pfizer Inc reported higher-than-expected quarterly earnings and revenue, and the world's biggest drugmaker said its full-year profit will be at top end of its prior view as savings accrue from its recent merger with Wyeth.
The company said on Tuesday that it had earned $2.48 billion, or 31 cents per share, in the second quarter, compared with $2.26 billion, or 34 cents per share, a year earlier, when it had fewer outstanding shares.
Excluding special items, Pfizer earned 62 cents per share. Analysts on average expected 52 cents, according to Thomson Reuters I/B/E/S.
Global revenue rose 58 percent to $17.33 billion, well above the analysts' average forecast of $16.65 billion.
The company said it now expected 2010 profit to be at the upper range of its previous forecast of $2.10 to $2.20 per share, excluding special items. It said its expenses this year would be at the lower end of its earlier forecast range.
(Reporting by Ransdell Pierson and Lewis Krauskopf; Editing by Lisa Von Ahn)