Bristol-Myers beats Street 2Q forecasts
Bristol-Myers Squibb Co. (BMY) on Thursday reported second-quarter earnings of $916 million.
The New York-based company said it had net income of 56 cents per share. Earnings, adjusted for non-recurring costs, came to 74 cents per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 73 cents per share.
The biopharmaceutical company posted revenue of $5.14 billion in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $5.07 billion.
Bristol-Myers expects full-year earnings in the range of $2.90 to $3 per share.
Bristol-Myers shares have fallen 4 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 11 percent. The stock has declined 25 percent in the last 12 months.
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
Keywords: Bristol-Myers Squibb, Earnings Report