Bristol-Myers Squibb Co. disclosed a decline in profits for the fourth quarter compared to the previous year, despite surpassing Wall Street projections. The pharmaceutical company's net income amounted to $1.76 billion, or $0.87 per share, which is less than the $2.02 billion, or $0.95 per share, recorded in the same period last year.
After excluding certain factors, Bristol-Myers Squibb Co. reported an adjusted earning of $3.47 billion, or $1.70 per share for the said period. In comparison, industry analysts had predicted the company's earnings to be around $1.53 per share, these estimates traditionally do not include unique items.
Briston-Myers Squibb Co.'s revenue for the quarter experienced a slight increase of 0.6% reaching $11.48 billion, up from $11.41 billion last year.
To give a quick review of Bristol-Myers Squibb Co.’s performance as per Generally Accepted Accounting Principles (GAAP), the earnings for Q4 were $1.76 billion as opposed to $2.02 billion in the last year; earnings per share (EPS) for Q4 were $0.87 compared to $0.95 in the previous year. As mentioned, analyst estimates were $1.53, and the revenue for Q4 was $11.48 billion relative to $11.41 billion in the last year.
