logo
Plus   Neg
Share
Email

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Alibaba is upgrading its intellectual property system using blockchain technology, according to local news outlet Sohu. Alibaba Platform Management expects this to benefit mainly small and medium-sized enterprises, brands and entrepreneurs. The technology will be fully implemented in September, and thereafter, the company intends to expand it to the field of digital copyright protection. Electronics retailer Best Buy Co., Inc. (BBY) reported Thursday a 27 percent increase in profit for the first quarter from last year, which was impacted by restructuring charges, and higher revenues. Both adjusted earnings per share and revenues for the quarter topped analysts' estimates. The company also provides guidance for the second quarter and reiterated its outlook for the full-year 2020. While reporting financial results for the second quarter on Thursday, Hormel Foods Corp. (HRL) lowered its earnings and net sales guidance for the full-year 2019. For fiscal 2019, the company now projects earnings in a range of $1.71 to $1.85 per share, and net sales between $9.70 billion and $10.20...
Follow RTT