The pharmaceutical company Bristol-Myers Squibb ended the second quarter with profits and revenues that exceeded market estimates, but slightly lowered its sales guidance.
In particular, Bristol’s revenue was $11.9 billion in the quarter, compared to analysts’ estimates of $11.4 billion.
Accordingly, its earnings were $1.93 per share, while the market expected $1.77 per share.
It is noted that Bristol’s sales were up 5% compared to the same period last year.
The company, however, slightly lowered its 2022 sales guidance, saying it now expects sales to reach $46 billion for the year, down from $46.4 billion previously.
A target that, if met, would beat the average analyst estimate according to FactSet, which is currently at 45.2 billion for the year.
Source: Capital
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