Bristol Myers Squibb results top estimates as new drugs post strong sales growth
Publishing timestamp: 2024-02-02 10:19:38
Summary
Bristol Myers Squibb reported quarterly earnings and revenue that exceeded expectations, driven by strong sales growth of its portfolio of new drugs. The company's full-year revenue forecast is in line with expectations, but it anticipates higher earnings than Wall Street expected. However, its profit shrank compared to the previous year. Bristol Myers also issued its full-year 2024 forecast, expecting higher-than-expected earnings and low single-digit revenue growth. The company's new drugs had mixed performance, with some exceeding revenue estimates and others falling short.
Sentiment: MIXED
Tickers: UNDEFINED, KRTX, BMY, PFE,
Keywords: biotechnology, pfizer inc, rayzebio inc, karuna therapeutics inc, business, biotech and pharmaceuticals, earnings, business news, pharmaceuticals, health care industry, bristol-myers squibb co,
Source: https://www.cnbc.com/2024/02/02/bristol-myers-squibb-bmy-q4-earnings-report-2023.html