Bristol-Myers Squibb Stock Surges 3% After First-quarter Profit, Revenue Beats

Bristol-Myers Squibb Co. shares surged 3.2% in premarket trade Thursday after the company reported first-quarter profit and revenue beats. Earnings for the latest quarter rose to $1.57 billion, or 94 cents per share, from $1.20 billion, or 71 cents per share in the year-earlier period. Adjusted earnings-per-share were 84 cents, compared with the FactSet consensus of 73 cents. Revenue rose to $4.93 billion from $4.39 billion, compared with the FactSet consensus of $4.75 billion. The latest results include a 60% increase in global revenues for cancer drug Opdivo compared with the year-earlier period, the company said. Bristol-Myers shares have surged 12.6% over the last three months, compared with a 4.0% rise in the S&P 500 .