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Bristol-Myers Squibb Posts Q3 Earnings Beat, Raises Full-Year Guidance

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Bristol-Myers Squibb Posts Q3 Earnings Beat, Raises Full-Year Guidance

Bristol-Myers Squibb (NYSE: BMY) reported third-quarter earnings of $1.17 per share Thursday, beating the analyst consensus estimate of $1.07. 

The company reported quarterly sales of $6.007 billion, which beat the analyst consensus estimate of $5.9 billion. 

Bristol-Myers raised its fiscal year 2019 EPS guidance from a range of $4.20-$4.30 to $4.25-$4.35 against a $4.28 estimate.

"In the third-quarter, we delivered strong business performance and made important progress with our pipeline, including the potential to bring our dual Immuno-Oncology combination to patients with lung cancer, a disease where the unmet need remains high," CEO Giovanni Caforio said in a statement.

"With strong momentum in our R&D and commercial organizations, I am looking forward to the tremendous opportunity when Bristol-Myers Squibb and Celgene come together as one, to deliver innovative medicines and transform patients' lives." 

Bristol-Myers Squibb shares were trading slightly higher at $56.90 at the time of publication. The stock has a 52-week high of $57.37 and a 52-week low of $42.48.

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