Bristol-Myers Squibb Earnings: BMY Stock Bounces on Strong Q2, Guidance

BMY beat EPS and revenue estimates for Q2

Bristol-Myers Squibb earnings for the second quarter of the year have BMY stock on the move Thursday.

Bristol-Myers Squibb Earnings: BMY Stock Bounces on Strong Q2, Guidance
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Bristol-Myers Squibb (NYSE:BMY) reported earnings per share of $1.18 for the second quarter of 2019. This is better than the company’s earnings per share of $1.01 from the second quarter of 2018. It was also a boon to BMY stock by handily beating out Wall Street’s earnings per share estimate of $1.06 for the period.

The Bristol-Myers Squibb earnings report for the second quarter of the year also has net income coming in at $1.44 billion. That’s up from the company’s net income of $381 million reported in the second quarter of the previous year.

Revenue reported in the Bristol-Myers Squibb earnings report for the second quarter of 2019 comes in at $6.27 billion. This is an increase over the pharmaceutical company’s revenue of $5.70 billion from the same period of the year prior. It was also good news for BMY stock by coming in well above analysts’ revenue estimate of $6.11 billion for the quarter.

The most recent Bristol-Myers Squibb earnings report also has the company increasing its outlook for the full year of 2019. It now expects earnings per share for the year to range from $4.20 to $4.30. The previous guidance was for earnings per share between $4.10 and $4.20. That’s a boon to BMY stock with Wall Street looking for earnings per share of $4.16 for the year.

BMY stock was up 4% as of Thursday afternoon, but is down 17% since the start of the year.

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


Article printed from InvestorPlace Media, https://investorplace.com/2019/07/bristol-myers-squibb-earnings-boosts-bmy-stock/.

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