Wyeth says that its first quarter earnings will be higher than Wall Street estimates because of strong performances from a number of key drugs and continuing favourable currency effects.
The firm notes that analysts are forecasting earnings per share of around $0.67, but claims that the figure will more than likely be in the mid-to-upper seventy cent range, or higher. It reaffirmed that it is expecting to see full-year EPS of between $2.70 and $2.80 [[01/02/05a]], but added that, if the current business trends continue, this figure could reach the higher end of the range.
However, for the third quarter of the year, the firm says that EPS could be down on the previous year [[21/10/04g]], potentially falling below Wall Street forecasts, primarily as a result of planned increases in research and development spending.
