PRINCETON, N.J. (AP) 鈥� PRINCETON, N.J. (AP) 鈥� Bristol Myers Squibb Co. (BMY) on Thursday reported first-quarter net income of $2.68 billion.
The Princeton, New Jersey-based company said it had net income of $1.31 per share. Earnings, adjusted for one-time gains and costs, came to $1.58 per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.44 per share.
The biopharmaceutical company posted revenue of $11.49 billion in the period, also exceeding Street forecasts. Nine analysts surveyed by Zacks expected $10.92 billion.
Bristol Myers expects full-year earnings in the range of $6.05 to $6.35 per share, with revenue in the range of $46 billion to $47.5 billion.
Bristol Myers shares have risen nearly 7% since the beginning of the year, while the S&P’s 500 index has climbed 4%. The stock has climbed 17% in the last 12 months.
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