PRINCETON, N.J. (AP) — PRINCETON, N.J. (AP) — Bristol Myers Squibb Co. (BMY) on Friday reported second-quarter profit of $1.68 billion.
The Princeton, New Jersey-based company said it had profit of 83 cents per share. Earnings, adjusted for amortization costs and non-recurring costs, came to $2.07 per share.
The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.64 per share.
The biopharmaceutical company posted revenue of $12.2 billion in the period, also beating Street forecasts. Nine analysts surveyed by Zacks expected $11.52 billion.
Bristol Myers shares have fallen 12% since the beginning of the year, while the S&P’s 500 index has climbed 13%. The stock has dropped 29% 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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