Bristol Myers: Q3 Earnings Snapshot

NEW JERSEY, N.J. (AP) — NEW JERSEY, N.J. (AP) — Bristol Myers Squibb Co. (BMY) on Thursday reported third-quarter earnings of $1.93 billion.

On a per-share basis, the New Jersey, New Jersey-based company said it had profit of 93 cents. Earnings, adjusted for non-recurring costs, were $2 per share.

The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.76 per share.

The biopharmaceutical company posted revenue of $10.97 billion in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $10.94 billion.

Bristol Myers expects full-year earnings in the range of $7.50 to $7.65 per share.

Bristol Myers shares have dropped 21% since the beginning of the year, while the S&P’s 500 index has risen 9%. The stock has declined 22% 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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