NEW YORK (Reuters) - 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
(Reporting by Ransdell Pierson; editing by John Wallace)