Bristol-Myers Squibb ( BMY) beat first-quarter earnings estimates and reaffirmed future guidance as the company saw a 10% jump in revenue.

The drugmaker posted net income of $964 million, or 49 cents a share, on revenue of $5.18 billion, compared with a profit of $792 million, or 41 cents a share, on sales of $4.73 billion a year ago. Excluding items, the company earned 41 cents a share.

On average, analysts expected net income of about $783 million, or 39 cents a share, on revenue of $5 billion.

The New York-based company also said it still expects to earn $1.50 to 1.55 per a share, excluding items, for all of 2004, which straddles the consensus estimate of $1.53 a share, according to Thomson First Call.

The company said it had "good growth in global sales" in key drugs, including Plavix and Abilify, and health care products such as Enfamil, the infant milk formula. Worldwide Plavix sales, for example, rose 71% to $697 million. The company said the weak dollar helped sales by 5%. Research and development spending rose 23% to $583 million.

Shares rose 63 cents, or 2.5%, to $25.35 in early trading.

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