Bristol-Myers: 2Q Earnings Snapshot

Bristol-Myers Squibb Co. (BMY) on Thursday reported second-quarter earnings of $373 million.

The New York-based company said it had net income of 23 cents per share. Earnings, adjusted for non-recurring costs, came to $1.01 per share.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 87 cents per share.

The biopharmaceutical company posted revenue of $5.7 billion in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $5.48 billion.

Bristol-Myers expects full-year earnings in the range of $3.55 to $3.65 per share.

Bristol-Myers shares have dropped roughly 4 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 6.5 percent. The stock has risen 5.5 percent in the last 12 months.

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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on BMY at https://www.zacks.com/ap/BMY