Pharmaceutical giant Pfizer today said it earned $2.235 billion, or 29 cents a share, in the third quarter, down from $2.350 billion, or 38 cents a share a year ago.
The company said the figure was pulled down by non-cash charges of $1.279 billion, mainly related to the acquisition of Pharmacia.
Excluding those charges, the company had earnings per share of 47 cents. The Thomson First Call consensus called for earnings per share of 44 cents.
Revenue climbed 56 percent to $12.5 billion, driven by growth across most products, the addition of Pharmacia products and the weak dollar. Pfizer closed yesterday up 50 cents at $31.50.