Bristol-Myers Squibb Earnings: Here’s Why Investors are Buying Shares
Bristol-Myers Squibb Company (NYSE:BMY) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. Shares are up 1.72%.
Bristol-Myers Squibb Company Earnings Cheat Sheet
Results: Net income increased 8.57% to $925 million (47 cents per diluted share) in the quarter versus a net gain of $852 million in the year-earlier quarter.
Revenue: Decreased 23.18% to $4.19 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Bristol-Myers Squibb Company reported adjusted net income of 47 cents per share. By that measure, the company beat the mean analyst estimate of $0.43. It beat the average revenue estimate of $4.12 billion.
Quoting Management: “With regulatory approvals for Eliquis and Forxiga, and good operating performance in the fourth quarter, Bristol-Myers Squibb had a strong finish to an important year of transition,” said Lamberto Andreotti, chief executive officer, Bristol-Myers Squibb…