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Bristol-Myers Q1 Results Top Estimates

Bristol-Myers Squibb Co. (BMY) reported that its net earnings attributable to the company for the first-quarter 2019 rose to $1.7 billion or $1.04 per share from $1.5 billion, or $0.91 per share for the same period in 2018. The results for the first quarter of 2019 included $187 million of Celgene-related acquisition and integration expenses.

Non-GAAP net earnings attributable to the company were $1.8 billion, or $1.10 per share, in the first quarter, compared to net earnings of $1.5 billion, or $0.94 per share, for the same period in 2018. Analysts polled by Thomson Reuters expected the company to report earnings of $1.09 per share for the first-quarter. Analysts' estimates typically exclude special items.

Quarterly revenues were $5.9 billion, an increase of 14% compared to the same period a year ago. Revenues increased 18% when adjusted for foreign exchange impact.Analysts expected revenue of $5.76 billion for the quarter. Analysts expected revenue of $5.76 billion for the quarter.

The company increased its 2019 GAAP earning per share guidance to range of $3.84 - $3.94 and confirmed its non-GAAP earnings per share guidance in a range of $4.10 - $4.20. Analysts expect annual earnings of $4.19 per share.

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