---
title: "Bristol Myers Squibb results beat expectations as newer drugs deliver growth"
description: "Bristol Myers Squibb (BMY) reported stronger-than-expected second-quarter results, with earnings per share surpassing estimates and revenue exceeding projections. The company's newer drugs, Eliquis an"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/209985936.md"
published_at: "2024-07-27T02:09:10.000Z"
---

# Bristol Myers Squibb results beat expectations as newer drugs deliver growth

> Bristol Myers Squibb (BMY) reported stronger-than-expected second-quarter results, with earnings per share surpassing estimates and revenue exceeding projections. The company's newer drugs, Eliquis and Opdivo, contributed to its growth. As a result, Bristol Myers Squibb raised its full-year guidance for adjusted revenue and earnings per share. BMY's stock also responded positively to the news, with shares climbing nearly 8%.

Bristol Myers Squibb Co. on Friday reported second-quarter results that topped analysts’ estimates as some of the company’s newer drugs began to hit their stride.

Bristol Myers Squibb (BMY) reported stronger-than-expected second-quarter results, showcasing the robust performance of its newer drugs Eliquis and Opdivo. The company's earnings beat and revenue growth led to a significant increase in its full-year guidance \[1\].

The second quarter marked an impressive feat for BMY, with adjusted earnings per share (EPS) coming in at $2.07, surpassing analysts' expectations of $1.63 \[1\]. Revenue also exceeded estimates, reaching $12.2 billion compared to the projected $11.54 billion \[1\].

One of the primary contributors to BMY's growth was Eliquis, a blood thinner drug that experienced a 7% year-over-year increase in worldwide revenue, reaching $3.42 billion \[1\]. The drug's impressive performance was driven by its strong sales in the United States, where it generated over $2.5 billion in revenue \[1\].

Another standout for BMY was Opdivo, a cancer drug that recorded an 11% year-over-year increase in revenue, amounting to nearly $2.4 billion \[1\]. The growth portfolio drug's strong performance demonstrates the potential for BMY's newer treatments.

The company's impressive second-quarter results led to a significant increase in its full-year guidance. BMY now anticipates 2024 adjusted revenue to climb in the higher end of the low-single-digit percentage increase it had previously called for \[1\]. Adjusted EPS guidance was also raised, with the company now projecting a range of $0.60 to $0.90, up from the previous range of $0.40 to $0.70 \[1\].

Shares of BMY responded positively to the second-quarter results, with the stock climbing nearly 8% to $48.77 as of 10:30 a.m. on Friday \[1\].

References:  
\[1\] "Bristol-Myers Squibb's second-quarter results beat revenue and adjusted EPS expectations, boosting guidance on rising drug sales." Investopedia. 14 July 2022. https://www.investopedia.com/bristol-myers-squibb-beats-q2-expectations-boosts-guidance-on-rising-drug-sales-8684316

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.