Bristol-Myers Posts Profit Rise

Bristol-Myers Squibb(BMY Quote) delivered a penny beat for the quarter and nudged adjusted guidance up on Thursday but warned of material restructuring charges to come.

The New York-based drugmaker reported GAAP earnings of $848 million, or 43 cents a share, vs. $338 million, or 17 cents a share, in the year-ago quarter.

Before items, the company earned $764 million, or 38 cents a share, up from $438 million, or 22 cents a share, in the 2006 period. Analysts surveyed by Thomson Financial had expected 37 cents a share on revenue of $5.02 billion. ...