NEW YORK (TheStreet) -- Bristol-Myers Squibb (BMY) - Get Report reaffirmed its full-year per-share earnings guidance range of $2.10 to $2.20 as third-quarter earnings fell slightly on flat sales growth.
Wall Street expects the drugmaker to earn $2.13 a share for the full year.
For the third quarter, the company said net income decreased about 2% to $949 million, or 55 cents a share, from $966 million, or 48 cents, the previous year. On average, analysts were expecting earnings of 53 cents a share.
Net sales were relatively flat at $4.798 billion vs. $4.788 billion the previous year. The average analyst estimate was $4.92 billion. The company said U.S. health care reform had a 1.6% negative impact on net sales in the third quarter.
-- Written by Andrea Tse in New York.
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