Pfizer Tops Estimates but Cuts 2015 Outlook Due to Strong Dollar

Pfizer's (PFE) new drugs pipeline gave their first quarter earnings a boost on Tuesday. The company beat estimates posting profits of $2.4B or $0.51 per share. Revenue was down on last year's numbers, coming in at $10.86 billion. The pharmaceuticals giant was hurt by the strong dollar and a wave of patent expirations. Pfizer cut its full year outlook for 2015 and lowered revenue forecasts to to $46.5 billion. The company saw a 44% increase in global vaccine revenue and agreed to buy injectable drugs maker Hospira for $16 billion back in February. Pfizer stock is up around 11 percent this year.