U.S. drugmaker Wyeth reported higher-than-expected first-quarter earnings due to cost-cutting, but revenue fell short of forecasts as the stronger dollar hurt overseas sales.

The company said on Wednesday it earned $1.2 billion, or 89 cents per share, unchanged from year-earlier results.

Excluding special charges, it earned 95 cents per share. On that basis, analysts on average expected 89 cents, according to Reuters Estimates.

Revenue fell 6 percent to $5.38 billion, about $150 million below the Reuters Estimates forecast. Wyeth said revenue would have risen 2 percentage points if not for the stronger dollar.

Wyeth, which has agreed to be acquired by Pfizer Inc

, stood by its full-year earnings forecast of $3.33 to $3.53 per share excluding special items. It earned $3.53 per share last year.

(Reporting by Ransdell Pierson; editing by John Wallace)

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