Bristol Myers Squibb reported quarterly earnings and revenue that topped expectations on Friday as its portfolio of new drugs posted strong sales growth.
That group raked in $1.07 billion in sales for the quarter, up 66% from the $645 million for the year-earlier period.
While its revenue outlook was in line with Wall Street estimates, it anticipates higher than expected earnings for the year.
Analysts surveyed by LSEG expect full-year adjusted earnings of $7 per share and sales growth of 1.9%.
Bristol Myers said Eliquis and Opdivo also contributed to the slight sales growth in the fourth quarter.
Persons:
Bristol Myers, Revlimid, Eliquis, Opdivo, FactSet
Organizations:
Bristol Myers Squibb, LSEG, Bristol Myers, Wall, Bristol, Pfizer, Medicare