Bristol Myers 2nd-qtr results beat estimates
US pharma major Bristol Myers Squibb’s (NYSE: BMY) dipped 2% to $73.63 pre-market today, as it released financial results for the second quarter of 2022, which it said reflect continued in-line product growth, strong momentum across the new product portfolio and continued pipeline progress. However, the company lowered its full-year earnings per share (EPS) guidance to $2.71 to $3.01 from $2.92 to $3.22.
Bristol Myers posted second quarter revenues of $11.9 billion, an increase of 2%, driven by in-line products, partially offset by recent LOE products and foreign exchange impacts. This was in excess of analysts’ estimates of $11.5 billion. When adjusted for foreign exchange impacts, second quarter revenues increased 5%.
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