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Wyeth Posts Flat Earnings, Revenue Slips
Wyeth(WYE Quote) reported that its first-quarter earnings were flat compared with a year ago, and said revenue declined 6% as a stronger dollar overseas cut into returns.
The Madison, N.J., drugmaker had net income of $1.2 billion, or 89 cents a diluted share, on revenue of $5.4 billion.
Excluding charges of $71.8 million for cost-cutting measures, the company earned 93 cents a share. Analysts on average were expecting EPS of 88 cents a share and revenue of $5.52 billion. ...
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