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Bristol Myers Squibb (BMY) reported adjusted earnings of $1.99 per share on $11.22 billion in third-quarter gross sales and, early Wednesday, BMY inventory dipped.
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On common, analysts polled by FactSet anticipated Bristol Myers earnings of $1.83 a share on $11.14 billion in gross sales. Although each metrics beat expectations, gross sales fell amid continued generic competitors for blockbuster most cancers drug Revlimid.
Within the year-earlier interval, the pharmaceutical firm earned $1.93 per share and reported $11.62 billion in gross sales.
For the 12 months, Bristol Myers reiterated its steerage for adjusted earnings of $7.44-$7.74 per share and $46 billion in gross sales. BMY inventory analysts forecasted adjusted earnings of $7.50 per share and $45.92 billion in gross sales.
In premarket buying and selling on at the moment’s inventory market, BMY inventory fell 1.5% close to 71.70.
Extra to comply with.
Comply with Allison Gatlin on Twitter at @IBD_AGatlin.
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