UPDATE: Bristol-Myers Squibb Reports Rise In Q4 Earnings

Bristol-Myers Squibb Co

reported a rise in its fourth-quarter earnings. Bristol-Myers Squibb's quarterly earnings surged to $852 million, or $0.50 per share, from $483 million, or $0.28 per share, in the year-earlier period. Its revenue climbed 7% to $5.5 billion from $5.1 billion. Its adjusted earnings came in at $0.53 per share. However, analysts were expecting earnings of $0.55 per share on revenue of 5.5 billion. Bristol-Myers Squibb projects 2012 earnings between $1.90 and $2.00 per share. Bristol-Myers Squibb shares gained 1.22% to $33.10 in pre-market trading.