Bristol Myers beats quarterly profit estimates in its latest earnings report, driven by strong demand for its blood thinner and newer cancer treatments.
The company posted adjusted earnings of USD 1.58 per share, topping analyst expectations of USD 1.42. Revenue came in at USD 11.49 billion, also ahead of estimates, sending shares up about 4 percent in early trading.
The growth was largely fueled by its blockbuster blood thinner Eliquis, which saw sales jump around 16 percent to USD 4.14 billion.
The drug continues to dominate in its category, supported by steady global demand. Alongside this, newer therapies such as Breyanzi and Camzyos played a key role in boosting performance. These newer drugs are part of the company’s “growth portfolio,” which rose roughly 12 percent and now contributes more than half of total revenue.
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Even as Bristol Myers beats quarterly profit estimates, some areas showed weakness. Sales of older drugs like Revlimid declined due to generic competition, a trend that continues to pressure legacy revenue streams. Meanwhile, cancer drug Opdivo reported a slight drop in sales, mainly due to inventory adjustments rather than a fall in demand.
Looking ahead, the company reaffirmed its full-year forecast, expecting revenue between USD 46 billion and USD 47.5 billion, with earnings projected in the range of USD 6.05 to USD 6.35 per share. It is also moving forward with a cost-cutting plan, having already achieved USD 1 billion in savings from a targeted USD 2 billion program.
Bristol Myers is also investing in artificial intelligence to speed up drug discovery and reduce clinical trial timelines. Investors are now watching closely for progress in its pipeline, as future growth will depend on how well new treatments can offset the decline of older blockbuster drugs.
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