Thursday, July 28, 2011

Bristol-Myers Squibb Co. (NYSE: BMY): Q2 2011 Earnings Roundup

Bristol-Myers Squibb Co. (NYSE: BMY) said that its second-quarter profit declined slightly to $1.31 billion, or 52 cents per share, compared with $1.27 billion, or 53 cents per share, in the year-ago quarter. On an adjusted basis, the company earned 56 cents per share in the latest quarter. Revenue rose 14% to $5.43 billion from $4.77 billion. Analysts, on average, expected the company to report earnings of 55 cents a share on revenue of $5.04 billion.

"I am proud of this organization and our strong second quarter results across the board--financially, clinically, and operationally. This performance demonstrates the success of our BioPharma strategy in delivering short term results and in positioning the Company for the future," said Lamberto Andreotti, chief executive officer, Bristol-Myers Squibb.

Looking ahead, the company lifted its 2011 GAAP EPS guidance range to $2.08 to $2.18 and its non-GAAP EPS range to $2.20 to $2.30. The Company also reaffirmed its minimum non-GAAP EPS guidance of $1.95 for 2013.  Previously, the company expected 2011 GAAP earnings per share of $2.00 to $2.10 and its non-GAAP earnings per share range from $2.10 to $2.20.

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