Bristol Myers Stock Ticks Higher Following Q4 Beat, Encouraging Guidance - Bristol-Myers Squibb (NYSE:BMY)

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Shares of Bristol-Myers Squibb Co (NYSE: BMY) were trading higher by around 1 percent early Thursday morning after the company released its fourth quarter results.Bristol Myers said that it earned $0.38 per share in the fourth quarter on revenue of $4.3 billion. Wall Street analysts were expecting the company to earn $0.28 per share on revenue of $4.15 billion.U.S. revenues rose 9 percent to $2.3 billion in the quarter compared to the same period a year ago while international revenue fell 7 percent, or gained 3 percent on a currency neutral basis.Gross margin as a percentage of revenues rose to 77.8 percent during the quarter from 77.3 percent in the same quarter a year ago.The company reported non-GAAP net earnings attributable to Bristol-Myers Squibb of $647 million, compared to $771 million in the same quarter a year ago.Looking forward to the full fiscal year 2016, Bristol Myers expects to earn $2.30 to $2.40 per share. Wall Street analysts were already estimating the company to earn $2.30 per share in the coming fiscal year.Bristol Myers also expects its full-year gross margin as a percentage of revenues to be approximately 75 to 76 percent."We have had an unprecedented year in Immuno-Oncology, delivered strong overall business performance and made strategic investments that position the company well for growth," said Giovanni Caforio, M.D., chief executive officer, Bristol-Myers Squibb. "We are looking forward to 2016 as an exciting year to continue our leadership in Immuno-Oncology, drive performance of our in-line products and continue to advance our diversified R&D portfolio."

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