Biggest Takeaways From Bristol-Myers Earnings - TheStreet

Here's What Drove Bristol-Myers Earnings

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Bristol-Myers Squibb  (BMY) - Get Report posted earnings on Thursday, Feb. 6. 

Here's what drove the quarter.

Bristol-Myers Squibb said that non-GAAP earnings came in at $1.22 a share, which was well ahead of analysts' expectations of 94 cents and up 30% from the same period last year.

Revenue came in at $7.95 billion, which beat expectations of $6.2 billion.

And then the company forecasts non-GAAP earnings of $6 to $6.20 a share, with revenue rising to between $40.5 and $42.5 billion in the financial year of 2020.

Sales of Opdivo, which is Bristol-Myers blockbuster Immuno-oncology drug, fell 2% to $1.76 billion, which came in shy of the FactSet consensus of $1.79 billion.

And Bristol-Myers noted that it “progressed our strategy through the acquisition of Celgene.”

Watch the video above for more.

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