Bristol-Myers Squibb beat second quarter earnings estimates, while also lifting its full-year profit guidance.
The pharmaceutical company’s non-GAAP earnings for the three months ending in June came in at $1.18 per share, 10 cents higher than the Street consensus estimates. The earnings per share figure is also +16.8% higher compared to the year-ago quarter.
The company’s total revenues increased +10.52% to $6.3 billion, topping analysts' estimates of $5.72 billion. Sales from Its blood clot treatment Eliquis surged +24% to touch to $2.04 billion.
For the full-year 2019, Bristol-Myers said that it would lower its GAAP earnings guidance by around 10 cents per share, to a range of $3.73 to $3.83 per share. Nevertheless, the company boosted its non-GAAP by 10 cents to, a new range of $4.20 to $4.30 per share.