Bristol Myers Squibb (BMY) increased portions of its 2024 line-item guidance. The company now expects: non-GAAP EPS in a range of $0.60 - $0.90, revised from prior guidance range of $0.40 - $0.70; and total revenues at upper end of low single- digit range, revised from previous outlook of low single-digit increase. Analysts polled by Thomson Reuters expect the company to report profit per share of $0.51. Analysts' estimates typically exclude special items.
Second quarter GAAP net income attributable to company was $1.7 billion, or $0.83 per share, compared to $2.1 billion, or $0.99 per share, a year ago. Non-GAAP net earnings attributable to Bristol Myers Squibb was $4.2 billion, or $2.07 per share, compared to $3.7 billion, or $1.75 per share, prior year. Analysts on average had expected the company to earn $1.63 per share, according to figures compiled by Thomson Reuters.
Second quarter revenues were $12.2 billion, an increase of 9%, or 11% when adjusted for foreign exchange impacts, primarily driven by the Growth Portfolio and Eliquis. Analysts on average had estimated $11.55 billion in revenue. Growth Portfolio worldwide revenues increased to $5.6 billion compared to $4.7 billion, a growth of 18% on a reported basis, or 21% when adjusted for foreign exchange impacts.
Also, Bristol Myers Squibb announced that the Phase 3 trial evaluating the efficacy and safety of cendakimab in patients with eosinophilic esophagitis met both co-primary endpoints. The company will work with investigators to present results at an upcoming medical conference.
Shares of Bristol Myers Squibb are up 4% in pre-market trade on Friday.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.