Better news at Bristol Myers as Q1 beat lifts outlook
Bristol Myers Squibb (NYSE: BMY) beat Wall Street expectations in the first quarter of 2025, sending shares higher in early trading Thursday, as the company raised its full-year forecast on the back of favorable foreign exchange and solid performance from its newer medicines.
The New Jersey-based drugmaker posted total revenue of $11.2 billion, down 6% from the prior year but just 4% lower when adjusting for currency shifts. Non-GAAP earnings per share reached $1.80, a sharp rebound from a $4.40 per-share loss in the same quarter last year.
The company credited strong sales in its growth portfolio, led by immunotherapy Opdivo (nivolumab) and cell therapies Breyanzi (lisocabtagene maraleucel) and Camzyos (mavacamten). Together, these helped drive a 16% jump in growth portfolio revenue to $5.6 billion.
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