Bristol-Myers (BMY) reported earnings on Thur 28 Jul 2016 (b/o)

** chart  6 days before earnings **

** charts after earnings **

 

Bristol-Myers beats by $0.03, beats on revs; raises FY16 EPS, in-line:

• Reports Q2 (Jun) earnings of $0.69 per share, $0.03 better than the Capital IQ Consensus of $0.66; revenues rose 17.2% year/year to $4.88 bln vs the $4.66 bln Capital IQ Consensus. Global revenues increased 18% adjusted for foreign exchange impact. Excluding Abilify and Erbitux, global revenues increased 24% or 26% adjusted for foreign exchange impact. U.S. revenues increased 46% to $2.7 billion in the quarter compared to the same period a year ago. International revenues decreased 6% primarily from lower Hepatitis C Franchise sales in Japan and France. When adjusted for foreign exchange impact, international revenues decreased 4%.
• Opdivo sales +588% to $840 mln; Eliquis +78% to $777 mln; Orencia +29% to $593 mln.
• Co issues in-line guidance for FY16, raises EPS to $2.55-2.65 from $2.50-2.60, excluding non-recurring items, vs. $2.60 Capital IQ Consensus Estimate.