PRINCETON, N.J. (AP) — PRINCETON, N.J. (AP) — Bristol Myers Squibb Co. (BMY) on Thursday reported a first-quarter loss of $11.91 billion, after reporting a profit in the same period a year earlier.
On a per-share basis, the Princeton, New Jersey-based company said it had a loss of $5.89.
The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of $4.55 per share.
The biopharmaceutical company posted revenue of $11.87 billion in the period, which topped Street forecasts. Nine analysts surveyed by Zacks expected $11.46 billion.
Bristol Myers expects full-year earnings in the range of 40 cents to 70 cents per share.
Bristol Myers shares have declined roughly 5% since the beginning of the year, while the S&P’s 500 index has climbed slightly more than 6%. The stock has dropped 31% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BMY at https://www.zacks.com/ap/BMY
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