UPDATE: Bristol-Myers Squibb Reports Better-Than-Expected Q1 Results

Bristol-Myers Squibb Co BMY reported upbeat results for the first quarter on Thursday. The company's quarterly profit increased to $986 million, or $0.57 per share, from $743 million, or $0.43 per share. The company's net sales surged to $5.01 billion, from $4.81 billion. However, analysts were expecting earnings of $0.53 per share on sales of $4.98 billion. BMY shares gained 0.57% to close at $28.28 yesterday. Read more from Benzinga's Company news.