NEW YORK (AP) -- Bristol-Myers Squibb Co. on Thursday reported first quarter profit of $1.71 billion.
The New York-based company said it had net income of $1.04 per share. Earnings, adjusted for one-time gains and costs, came to $1.10 per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.09 per share.
The biopharmaceutical company posted revenue of $5.92 billion in the period.
Bristol-Myers expects full-year earnings in the range of $4.10 to $4.20 per share.
Bristol-Myers shares have decreased 14% since the beginning of the year, while the Standard & Poor's 500 index has risen 17%. The stock has fallen 13% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BMY at https://www.zacks.com/ap/BMY