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Bristol-Myers Squibb Earnings: BMY Stock Pops on Q1 Beat

William White

Bristol-Myers Squibb earnings for the first quarter of 2019 have BMY stock up on Thursday.

Bristol-Myers Squibb Earnings: BMY Stock Pops on Q1 Beat

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Bristol-Myers Squibb (NYSE:BMY) reported earnings per share of $1.10 for the first quarter of 2019. This is up from the company’s earnings per share of 94 cents from the same time last year. It was also a boon to BMY stock by beating out Wall Street’s earnings per share estimate of $1.09 for the period.

The Bristol-Myers Squibb earnings report for the first quarter of the year also has net income coming in at $1.72 billion. The American pharmaceutical company reported net income of $1.50 billion in the first quarter of 2018.

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Bristol-Myers Squibb earnings for the first quarter of 2019 also include revenue of $5.92 billion. This is an increase over the company’s revenue of $5.19 billion reported in the same period of the year prior. It was also a blessing for BMY stock by coming in above analysts’ revenue estimate of $5.75 billion for the quarter.

Bristol-Myers Squibb also provides its outlook for the full year of 2019 in its most recent earnings report. The company says that it is expecting earnings per share for the year to range from $4.10 to $4.20. Wall Street is looking for the company to report earnings per share of $4.18 for the full year of 2019.

The Bristol-Myers Squibb earnings report for the first quarter of 2019 also includes an update concerning Celgene (NASDAQ:CELG). The company says that it now has approval from its shareholders to move forward with the acquisition plan.

BMY stock was up 1% as of Thursday afternoon, but is down 14% since the start of the year.

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As of this writing, William White did not hold a position in any of the aforementioned securities.

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