) reported stronger-than-expected earnings for the second quarter and raised its profit forecast for the full year. The New York-based company posted a quarterly loss of $130 million, or $0.08 per share, versus a year-ago profit of $333 million, or $0.20 per share. Excluding special items, the company earned $0.53 per share. Its revenue climbed 7 percent to $4.16 billion. However, analysts were expecting earnings of $0.36 per share on revenue of $3.71 billion. The average estimate among 24 Estimize users was for earnings of $0.38 per share and revenue of $3.76 billion. U.S. revenue declined 3 percent to $1.8 billion in the quarter, while international revenue rose 17 percent. Yervoy sales declined 8 percent to $296 million in the recent quarter. Its gross margin as a percentage of revenues widened to 75.7 percent in the quarter, from 74.5 percent in the year-ago period. Research and development expenses gained 31 percent to $1.9 billion in the quarter, while marketing, selling and administrative expenses rose 2 percent to $968 million. "We had a very good quarter, with strong sales across our portfolio, encouraging results from clinical trials and important regulatory milestones," said Giovanni Caforio, M.D., chief executive officer, Bristol-Myers Squibb. "I am excited by our progress in Immuno-Oncology as we continue to advance our leadership position and transform cancer treatment. As our Immuno-Oncology data continues to emerge, it is clear we have a tremendous opportunity, and we are making the right strategic investments to capitalize on the full potential of our portfolio." For the full year, Bristol-Myers now projects earnings of $1.70 to $1.80 per share, versus its previous outlook of $1.60 to $1.70 per share. Bristol-Myers Squibb shares rose 1.77 percent to $70.60 in pre-market trading.