Bristol-Myers Squibb Reports Q4 Beat
Bristol-Myers Squibb Reports Q4 Beat

Bristol-Myers Squibb Reports Q4 Beat

Feb. 2, 2024, 11:28 a.m., readers: 21

Bristol-Myers Squibb (NYSE:BMY) announced its fiscal fourth-quarter results, with earnings and revenue exceeding expectations. The pharmaceutical giant reported fourth-quarter earnings per share (EPS) of $1.70, surpassing the Wall Street consensus of $1.60. The quarter's revenue was $11.48 billion, a 0.6% increase from the previous year, and higher than the anticipated $11.2 billion. Bristol-Myers Squibb achieved an adjusted gross margin of 76.4%, a slight decrease from last year's 77.9% but above the expected 75.6%. Looking into fiscal 2024, Bristol-Myers Squibb sets its EPS projection in the range of $7.10 to $7.40, compared to the analyst expectation of $7.39. The company anticipates a low single-digit increase in revenue for the year and projects the gross margin to be around 74%.


About NYSE: BMY

B ristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, neuroscience, and covid-19 diseases. The company's products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Eliquis, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE;

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