Bristol-Myers Squibb Posts Q3 Earnings Beat, Raises Full-Year Guidance

Bristol-Myers Squibb BMY reported third-quarter earnings of $1.17 per share Thursday, beating the analyst consensus estimate of $1.07. 

The company reported quarterly sales of $6.007 billion, which beat the analyst consensus estimate of $5.9 billion. 

Bristol-Myers raised its fiscal year 2019 EPS guidance from a range of $4.20-$4.30 to $4.25-$4.35 against a $4.28 estimate.

"In the third-quarter, we delivered strong business performance and made important progress with our pipeline, including the potential to bring our dual Immuno-Oncology combination to patients with lung cancer, a disease where the unmet need remains high," CEO Giovanni Caforio said in a statement.

"With strong momentum in our R&D and commercial organizations, I am looking forward to the tremendous opportunity when Bristol-Myers Squibb and Celgene come together as one, to deliver innovative medicines and transform patients' lives." 

Bristol-Myers Squibb shares were trading slightly higher at $56.90 at the time of publication. The stock has a 52-week high of $57.37 and a 52-week low of $42.48.

Related Links:

The Daily Biotech Pulse: Agile Receives Favorable Adcom Verdict, Merit Medical Tumbles On Earnings, 2 Biotechs To Debut

Catalent To Purchase Bristol-Myers Squibb Manufacturing Facility In Italy

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidance
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!