Bristol-Myers Squibb Co. (BMY) recently reported its third-quarter earnings, which, although showing a decline from the previous year, surpassed analysts' expectations.
The firm posted a net income of $1.211 billion, or $0.60 per share, a decrease from the $1.928 billion, or $0.93 per share, reported in the same quarter last year.
On an adjusted basis, excluding certain items, the company achieved earnings of $3.650 billion, or $1.80 per share, for the period.
Analysts had anticipated earnings of approximately $1.49 per share, based on consensus estimates gathered by Thomson Reuters.
Revenue for the quarter increased by 8.4%, reaching $11.892 billion, up from $10.966 billion in the previous year.
In summary, Bristol-Myers Squibb's key financial results for the third quarter are as follows:
- Earnings: $1.211 billion, compared to $1.928 billion in the prior year.
- Earnings per Share (EPS): $0.60, down from $0.93 last year.
- Revenue: $11.892 billion, compared with $10.966 billion a year ago.
