PRINCETON, N.J. (AP) — PRINCETON, N.J. (AP) — Bristol Myers Squibb Co. (BMY) on Thursday reported first-quarter net income of $2.46 billion, after reporting a loss in the same period a year earlier.
The Princeton, New Jersey-based company said it had profit of $1.20 per share. Earnings, adjusted for amortization costs and non-recurring costs, came to $1.80 per share.
The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.51 per share.
The biopharmaceutical company posted revenue of $11.2 billion in the period, which also topped Street forecasts. Ten analysts surveyed by Zacks expected $10.73 billion.
Bristol Myers expects full-year earnings in the range of $6.70 to $7 per share, with revenue in the range of $45.8 billion to $46.8 billion.
Bristol Myers shares have decreased 14% since the beginning of the year, while the S&P's 500 index has declined nearly 9%. The stock has declined 1% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BMY at https://www.zacks.com/ap/BMY
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