Bristol-Myers Squibb's stock surged 5.06% during intraday trading on Thursday, driven by the company's fourth-quarter 2025 financial results that exceeded Wall Street expectations and its optimistic outlook for 2026.

The biopharma company reported adjusted earnings per share of $1.26 for the fourth quarter, beating the consensus estimate of $1.12. Quarterly revenue rose 1% to $12.5 billion, also topping analysts' forecast of $12.28 billion. The strong performance was supported by robust sales of cancer immunotherapy Opdivo, which saw a 9% increase to $2.69 billion, ahead of expectations.

Furthermore, Bristol-Myers provided full-year 2026 guidance that surpassed analyst estimates. The company projects revenue in the range of $46.0 billion to $47.5 billion, compared to the consensus of $44.2 billion, and expects adjusted earnings per share between $6.05 and $6.35, above the estimated $6.02. The company anticipates its blood thinner Eliquis to be an important growth driver, with worldwide revenue expected to increase 10% to 15% in 2026, as strategic price cuts are designed to avoid U.S. Medicare penalties and drive volume growth.