PRINCETON, N.J. (AP) — PRINCETON, N.J. (AP) — Bristol Myers Squibb Co. (BMY) on Thursday reported second-quarter profit of $1.31 billion.
On a per-share basis, the Princeton, New Jersey-based company said it had net income of 64 cents. Earnings, adjusted for non-recurring costs and amortization costs, were $1.46 per share.
The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.07 per share.
The biopharmaceutical company posted revenue of $12.27 billion in the period, also surpassing Street forecasts. Ten analysts surveyed by Zacks expected $11.4 billion.
Bristol Myers expects full-year earnings in the range of $6.35 to $6.65 per share, with revenue in the range of $46.5 billion to $47.5 billion.
Bristol Myers shares have dropped 19% since the beginning of the year, while the S&P’s 500 index has climbed 8%. The stock has dropped slightly more than 6% 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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