PRINCETON, N.J. (AP) — PRINCETON, N.J. (AP) — Bristol Myers Squibb Co. (BMY) on Thursday reported third-quarter earnings of $2.2 billion.
On a per-share basis, the Princeton, New Jersey-based company said it had profit of $1.08. Earnings, adjusted for non-recurring costs, came to $1.63 per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.48 per share.
The biopharmaceutical company posted revenue of $12.22 billion in the period, also surpassing Street forecasts. Nine analysts surveyed by Zacks expected $11.83 billion.
Bristol Myers expects full-year earnings in the range of $6.40 to $6.60 per share, with revenue in the range of $47.5 billion to $48 billion.
Bristol Myers shares have declined 25% since the beginning of the year, while the S&P’s 500 index has increased 17%. The stock has decreased 19% 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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