By Mackenzie Tatananni

Bristol Myers Squibb stock gained on the back of better-than-expected fourth-quarter earnings but most encouraging was an upbeat outlook from the drugmaker.

The biopharmaceutical giant reported adjusted earnings of $1.26 a share, topping analysts' consensus of $1.23. Revenue ticked up 1% to $12.5 billion, outstripping Wall Street's calls for $12.3 billion.

Bristol Myers' full-year guidance handily beat expectations. For the full year, Bristol Myers sees adjusted earnings in the range of $6.05 to $6.35 a share, above analysts' forecasts for $6.02. The company also guided for revenue of $46 billion to $47.5 billion, blowing past estimates of $44.2 billion.

Shares rose 3.2% in premarket trading Thursday. Futures tracking the benchmark S&P 500 were slightly higher.

Quarterly performance was mixed across the company's business lines. Revenue declined 15% to $5.1 billion within its legacy drug portfolio, partly due to increased competition from generics.

Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com

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February 05, 2026 07:17 ET (12:17 GMT)

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