Bristol-Meyers Beats Fourth Quarter Expectations, But Stock Dips After Dissappointing Outlook

Fourth-quarter revenues for Bristol-Meyers Squibb Co. beat expectations but the stock dipped 1.9% in pre-market trade Monday after the pharmaceutical giant reported a disappointing outlook. Bristol-Meyers reported a fourth quarter revenue of $4.26 billion, beating the FactSet consensus of $4.04 billion. The company reported a profit of $13 million, or 1 cent a share, down from $726 million, or 44 cents a share, in the year-earlier period. The company said adjusted per-share earnings came to 46 cents, which exceeded analyst expectations of 41 cents. For its full-year 2015 outlook, the company estimated adjusted earnings per share at $1.55 to $1.70, compared to the FactSet consensus of $1.70. The company estimated 2015 revenue at $14.4 billion to $15 billion, below the FactSet consensus of $15.6 billion.