Bristol Myers Squibb Reports Strong Q2 Results and Upgraded Profit Forecast for 2024
Friday, 26 July 2024, 12:08
Bristol Myers Squibb's Q2 Performance
Bristol Myers Squibb & Co (NYSE:BMY) has reported strong second-quarter results, posting revenues of $12.20 billion, significantly exceeding the consensus estimate of $11.55 billion.
Key Highlights
- Year-over-year growth of 9%, or 11% after adjusting for foreign exchange impacts.
- Growth Portfolio revenues increased to $5.6 billion, up from $4.7 billion last year.
- Growth in the Growth Portfolio is recorded at 18% on a reported basis or 21% when adjusted for foreign exchange.
Future Outlook
The strong demand for newer drugs and the success of Eliquis have contributed to Bristol Myers Squibb's confidence in its future performance. As a result, the company has raised its 2024 profit forecast, indicating an optimistic view on continued growth.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.