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) --


(PFE) - Get Pfizer Inc. Report

Tuesday reported third-quarter earnings of $2.88 billion, or 43 cents a share, up from a year-ago profit of $2.28 billion, or 34 cents a share.

On an adjusted basis, excluding certain accounting adjustments, acquisition-related costs, and discontinued operations, the New York-based drug giant earned $3.46 billion, or 51 cents a share, in the latest three months.

Revenue fell 3% year-over-year to $11.82 billion from $11.97 billion.

The average estimate of analysts polled by Thomson Reuters was for a profit of 48 cents a share in the September period on revenue of $11.4 billion.

Pfizer, which completed its acquisition of

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last week, also updated its outlook to reflect the impact of the deal. The component of the

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now sees adjusted earnings of $2 to $2.05 a share for fiscal 2009, up from a prior view of $1.90 to $2 a share. On a reported basis, the company now sees earnings of $1.45 to $1.50 a share for the year on revenue of between $49 billion to $50 billion. Pfizer's previous outlook was for earnings of $1.30 to $1.45 a share on revenue of $45 billion to $46 billion for the year.

-- Reported by Michael Baron in New York


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