NEW YORK (CNN/Money) - Gillette Co. reported improved first-quarter earnings Tuesday that topped Wall Street expectations.

The Boston-based maker of razors earned $223 million, or 21 cents a share, up from $182 million, or 17 cents a share, a year earlier. Analysts surveyed by earnings tracker First Call had forecast 19 cents.

Shares of Gillette (G: up $1.38 to $36.23, Research, Estimates) gained more than 4 percent in morning trading Tuesday.

Revenue rose 7 percent to $1.7 billion from $1.6 billion a year earlier. The company said changes in currency exchange rates, most notably in Argentina, Europe and Japan, reduced revenue 3 percent in the period.

Gillette said its Mach3 razor continued to generate record sales and market share gains. Besides razors, Gillette makes Duracell batteries and a range of oral care and other products under the Braun name.