The company said non-GAAP earnings for the three months ending in September came in at $1.63 each, up 39.3% from the same period last year and firmly ahead of the Street consensus forecast of $1.49 per share. Group revenues, Bristol-Myers said, rose 75.4% to $10.54 billion as the impact of last year's $74 billion acquisition of Celgene added to topline gains.
“I am proud of the significant achievements of our new company over the past year, and the strong foundation we have created for near- and long-term growth” said CEO Giovanni Caforio. “Our financial strength and flexibility combined with our robust inline businesses, multiple launches, and progress in our deep pipeline, including the promising results from the deucravacitinib trial, strongly position the company to deliver our mission and help more patients."
So, does Jim Cramer think investors can buy Bristol-Myers following earnings?