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Bristol-Myers Tops Q1 Earnings Estimate After Winning Celgene Takeover Approval
Bristol-Myers Squibb posted stronger than-expected first quarter earnings Thursday, and boosted one of its key profit forecast, after seeing off an activist challenge to its $74 billion takeover of cancer specialist Celgene earlier this month.
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Bristol-Myers said non-GAAP earnings for the three months ending in March came in at $1.10 per share, up 17% from the same period last year and two cents ahead of the Street consensus forecast. Group revenues, Bristol-Myers said, rose 14% to $5.9 billion, again topping forecasts of $5.72 billion.
Looking into 2019, Bristol-Myers boosted its GAAP earnings forecast to between $3.84 and $3.94 per share and said it sees a gross margin of around 70% of revenues. Non-GAAP earnings forecasts were confirmed in the range of $4.10 to $4.20 per share, compared to a Refintiv estimate of $4.18 per share.
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https://www.thestreet.com/investing/earn...yptr=yahoo
![[Bild: BMYc1dl1515.png]](https://finviz.com/publish/042519/BMYc1dl1515.png)
Bristol-Myers Squibb posted stronger than-expected first quarter earnings Thursday, and boosted one of its key profit forecast, after seeing off an activist challenge to its $74 billion takeover of cancer specialist Celgene earlier this month.
...
Bristol-Myers said non-GAAP earnings for the three months ending in March came in at $1.10 per share, up 17% from the same period last year and two cents ahead of the Street consensus forecast. Group revenues, Bristol-Myers said, rose 14% to $5.9 billion, again topping forecasts of $5.72 billion.
Looking into 2019, Bristol-Myers boosted its GAAP earnings forecast to between $3.84 and $3.94 per share and said it sees a gross margin of around 70% of revenues. Non-GAAP earnings forecasts were confirmed in the range of $4.10 to $4.20 per share, compared to a Refintiv estimate of $4.18 per share.
...
https://www.thestreet.com/investing/earn...yptr=yahoo
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