Bristol Myers: Q1 Earnings Snapshot
NEW YORK (AP) — NEW YORK (AP) — Bristol Myers Squibb Co. (BMY) on Thursday reported first-quarter profit of $2.26 billion.
On a per-share basis, the New York-based company said it had profit of $1.07. Earnings, adjusted for one-time gains and costs, were $2.05 per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.98 per share.
The biopharmaceutical company posted revenue of $11.34 billion in the period, falling short of Street forecasts. Seven analysts surveyed by Zacks expected $11.61 billion.
Bristol Myers expects full-year earnings in the range of $7.95 to $8.25 per share.
Bristol Myers shares have fallen 5.5% since the beginning of the year, while the S&P’s 500 index has climbed roughly 6%. The stock has fallen 10% in the last 12 months.