Pfizer profit tops forecast, but revenue misses

By @ibtimes on

U.S. drugmaker Pfizer Inc reported quarterly results roughly in line with expectations and said it expects by the second half of the year to complete its review of which company businesses are appropriate to keep.

The world's largest drugmaker said it earned $2.22 billion, or 28 cents per share, in the first quarter. That compared with $2.03 billion, or 25 cents per share, in the year-earlier period, when Pfizer took charges related to its late 2009 purchase of rival U.S. drugmaker Wyeth.

Excluding special items, including its Capsugel business that is being sold and is now considered to be a discontinued operation, Pfizer earned 60 cents per share. Analysts on average expected 59 cents per share, according to Thomson Reuters I/B/E/S.

Global company revenue of $16.5 billion was a bit shy of Wall Street expectations of $16.63 billion.

(Reporting by Ransdell Pierson; Editing by Maureen Bavdek)

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