=Bristol-Myers (BMY) reported earnings on Thur 26 Oct 2017 (b/o)

Bristol-Myers misses by $0.02, beats on revs; raises FY17 EPS guidance 

• Reports Q3 (Sep) earnings of $0.75 per share, excluding non-recurring items, $0.02 worse than the Capital IQ Consensus of $0.77; revenues rose 6.7% year/year to $5.25 bln vs the $5.2 bln Capital IQ Consensus.
• Gross margin as a percentage of revenue decreased from 73.5% to 70.1% in the quarter primarily due to product mix and an inventory charge.
• Product [Growth %]
  • Eliquis [39%]
  • Opdivo [38%]
  • Yervoy [13%]
  • Orencia [10%]
  • Sprycel [8%]
• Today the company is announcing the FDA added five-year overall survival data from the Phase 3 CA184-029 trial, to the prescribing information for Yervoy for the adjuvant treatment of fully resected cutaneous melanoma with pathologic involvement of regional lymph nodes of more than 1 mm. Yervoy is the first immune checkpoint inhibitor to demonstrate a statistically significant improvement in overall survival in this patient population.
• Co raises guidancefor FY17, sees EPS of $2.95-3.05 (Prior $2.90-3.00), excluding non-recurring items, vs. $2.96 Capital IQ Consensus Estimate.