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New York-based Bristol-Myers Squibb Company (BMY - Free Report) is a major producer and distributor of pharmaceuticals and other healthcare related products. The company’s key oncology products include Opdivo, Sprycel, Yervoy and the recently launched Empliciti. Beyond oncology, the company remains focused on immunology and cardiovascular drugs like Orencia and Eliquis. It also markets drugs for hepatitis B virus (HBV) and HCV like Baraclude and Daklinza. The company’s virology portfolio comprises products like Reyataz and the Sustiva franchise.
Bristol-Myers is actively building its partnership portfolio and pursuing strategic acquisitions across therapeutic areas including immunoscience, oncology, fibrosis and genetically defined diseases.
However, like many of its peers, Bristol-Myers is facing generic competition for several of its key products. Moreover, its HIV and HCV businesses are under competitive pressure. In this scenario, investor focus remains on company’s high-profile immuno-oncology drug, Opdivo apart from the usual top-and bottom-line numbers.
Bristol-Myers has been seen to consistently beat earnings expectations. The company’s earnings surpassed expectations in each of the last four quarters, with an average positive surprise of 27.67%.
Currently, Bristol-Myers has a Zacks Rank #2 (Buy), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Bristol-Myers beat on second-quarter 2016 earnings. The company reported EPS of 69 cents while our consensus called for EPS of 67 cents.
Revenues: Revenues also came in above expectations. Bristol-Myers posted revenues of $4.87 billion, compared to our consensus estimate of $4.64 billion.
Raises 2016 Earnings Outlook: Bristol-Myers raised its earnings outlook for 2016 yet again. The company now expects earnings in the range of $2.55 to $2.65 per share (old guidance: $2.50 to $2.60 per share). The Zacks Consensus Estimate for earnings is $2.63 per share.
Check back later for our full write up on this Bristol-Myers earnings report later!
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Bristol-Myers (BMY) Tops Q2 Earnings and Revenues
New York-based Bristol-Myers Squibb Company (BMY - Free Report) is a major producer and distributor of pharmaceuticals and other healthcare related products. The company’s key oncology products include Opdivo, Sprycel, Yervoy and the recently launched Empliciti. Beyond oncology, the company remains focused on immunology and cardiovascular drugs like Orencia and Eliquis. It also markets drugs for hepatitis B virus (HBV) and HCV like Baraclude and Daklinza. The company’s virology portfolio comprises products like Reyataz and the Sustiva franchise.
Bristol-Myers is actively building its partnership portfolio and pursuing strategic acquisitions across therapeutic areas including immunoscience, oncology, fibrosis and genetically defined diseases.
However, like many of its peers, Bristol-Myers is facing generic competition for several of its key products. Moreover, its HIV and HCV businesses are under competitive pressure. In this scenario, investor focus remains on company’s high-profile immuno-oncology drug, Opdivo apart from the usual top-and bottom-line numbers.
Bristol-Myers has been seen to consistently beat earnings expectations. The company’s earnings surpassed expectations in each of the last four quarters, with an average positive surprise of 27.67%.
Currently, Bristol-Myers has a Zacks Rank #2 (Buy), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Bristol-Myers beat on second-quarter 2016 earnings. The company reported EPS of 69 cents while our consensus called for EPS of 67 cents.
Revenues: Revenues also came in above expectations. Bristol-Myers posted revenues of $4.87 billion, compared to our consensus estimate of $4.64 billion.
Raises 2016 Earnings Outlook: Bristol-Myers raised its earnings outlook for 2016 yet again. The company now expects earnings in the range of $2.55 to $2.65 per share (old guidance: $2.50 to $2.60 per share). The Zacks Consensus Estimate for earnings is $2.63 per share.
Check back later for our full write up on this Bristol-Myers earnings report later!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>