The world's biggest drugmaker said it earned $767 million, or 10 cents per share, compared with $266 million, or 4 cents per share, in the year-earlier period.
Excluding special items, Pfizer earned 49 cents per share. Analysts on average had expected 50 cents per share, according to Thomson Reuters I/B/E/S.
Pfizer revenue rose 34 percent to $16.5 billion, above Wall Street expectations of $15.9 billion.
Pfizer, which completed its $67 billion purchase of Wyeth in October, said the results included 2.5 months of U.S. Wyeth sales and 1.5 months of Wyeth overseas sales.
The company said it expects full-year 2010 earnings of $2.10 per share to $2.20 per share. Analysts on average had expected $2.27 per share, according to Thomson Reuters I/B/E/S. Pfizer said the strengthening dollar will crimp earnings this year 6 cents per share more than it had expected.
(Reporting by Ransdell Pierson and Lewis Krauskopf, editing by Gerald E. McCormick)