Bristol-Myers Squibb Reports Stronger-than-Expected Q4 Earnings Despite Net Profit Decline

Gelonghui February 3rd丨Bristol-Myers Squibb (BMY.US), an American pharmaceutical company, announced that for the fourth quarter ended December 31st of last year, its net profit reached $2.02 billion (same below), a year-on-year decrease of 14.8%; adjusted earnings per share were $1.82, surpassing market expectations of $1.72.

Bristol-Myers Squibb reported a 5% year-over-year decline in total revenue last quarter to $11.41 billion, surpassing market expectations of $11.2 billion; excluding the impact of foreign exchange, revenue increased by 3%; Revlimid, an oncology drug, generated $2.26 billion in revenue last quarter, exceeding market expectations, with full-year revenue last year reaching $9.98 billion. However, the company expects this year's revenue to drop to $6.5 billion, primarily due to the expiration of its patent and increased competition from similar generic drugs in the market.

The company expects this year's adjusted earnings per share to be between 7.95 and 8.25 yuan; revenue is expected to increase by 2%, compared to last year's 46.16 billion yuan.