Pfizer reported quarterly earnings and revenue that missed analysts' expectations on Tuesday, citing the stronger dollar and the spin-off of its animal health unit Zoetis. The largest U.S. drugmaker also trimmed its full-year guidance. The company said it now expects full-year earnings, excluding items, of $2.14
to $2.24 a share, on revenue of $55.3 billion to $57.3 billion. After the earnings announcement, the company's shares fell in pre-market trading. Pfizer posted first-quarter earnings excluding items of 54 cents per share, down from 58 cents a share in the year-earlier period. Revenue dropped to $13.5 billion from $14.89 billion a year ago. Analysts had expected Pfizer to report earnings excluding items of 55 cents a share on $13.99 billion in revenue, according to a consensus estimate from Thomson Reuters. In February, Pfizer's Zoetis raised $2.2 billion in its initial public offering, becoming the largest IPO from a U.S. company since Facebook.
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