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Bristol-Myers Squibb raises annual outlook as Q2 tops estimates; shares up
['Vahid Karaahmetovic', 'Min Read']
Yahoo Finance - Business Finance, Stock Market, Quotes, News
Investing.com -- Bristol-Myers Squibb shares rose more than 1% in premarket trading Thursday after the drugmaker posted second-quarter results well ahead of expectations and raised its full-year guidance.
Revenue came in at $12.97 billion, up 5% excluding currency effects, well ahead of consensus expectations of $11.71 billion.
Growth Portfolio revenue rose 15%, or 14% excluding currency effects, to $7.6 billion, driven primarily by Opdivo Qvantig, Reblozyl, Camzyos, Breyanzi and Opdualag.
Regionally, U.S. revenue rose 6% to $9.0 billion, while international revenue increased 6%, or 5% excluding currency effects, to $4.0 billion.
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