ZTS Zoetis Inc

By Rob Curran

Zoetis Inc. posted an increase in first-quarter profit and revenue as demand for pet medicine remained strong.

The animal-medicine company, spun off by Pfizer Inc. in 2013, said earnings rose to $595 million, or $1.26 a share, from $559 million, or $1.18 a share, a year earlier.

Excluding certain items, the company posted adjusted earnings of $1.32 a share.

Foreign-exchange fluctuations weighed on earnings, Zoetis said.

Revenue rose to $1.99 billion from $1.87 billion in the prior-year period.

Sales of companion animal products increased 18%, driven by growth across the company's parasiticide portfolio, primarily from sales of Simparica Trio, Zoetis said.

Write to Rob Curran at rob.curran@wsj.com

(END) Dow Jones Newswires

May 05, 2022 07:50 ET (11:50 GMT)

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