Bristol-Myers: 2Q Earnings Snapshot
NEW YORK (AP) _ Bristol-Myers Squibb Co. (BMY) on Thursday reported second-quarter profit of $1.43 billion.
On a per-share basis, the New York-based company said it had net income of 87 cents. Earnings, adjusted for non-recurring costs, came to $1.18 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.06 per share.
The biopharmaceutical company posted revenue of $6.27 billion in the period.
Bristol-Myers expects full-year earnings in the range of $4.20 to $4.30 per share.
Bristol-Myers shares have fallen 17% since the beginning of the year, while the Standard & Poor’s 500 index has risen 20%. The stock has decreased 26% in the last 12 months.