New York - Pfizer Inc, the world's largest drug maker, said Tuesday that its quarterly earnings tripled on one-time items despite flat revenues.

Earnings rose to 2.28 billion dollars, or 34 cents a share, on job cuts and a favourable exchange rate, up from 761 million dollars, or 11 cents, in the year-earlier period when it was hit by a one-time charge for dropping an insulin drug, the company said in New York. Excluding one-time costs, profits rose 5 per cent.

Revenue remained flat at 11.97 billion dollars amid declining US sales of cholesterol lowering drug Lipitor and stronger competition from generic drugs.

In the US, third quarter revenues fell 15 per cent to 4.9 billion dollars, while international sales rose 13 per cent. (dpa)