Ciara Linnane is MarketWatch's investing- and corporate-news editor. She is based in New York.
Bristol-Myers Squibb Co. BMY, +0.87% on Thursday posted net income of $1.928 billion, or 93 cents a share, for the third quarter, up from $1.606 billion, or 75 cents a share, in the year-earlier period. Adjusted per-share earnings came to $2.00, ahead of the $.176 FactSet consensus. Revenue fell to $10.966 billion from $11.
218 billion a year ago, but also beat the $10.955 billion FactSet consensus. The company raised the midpoint of its full-year adjusted EPS guidance to a range of $7.60 to $7.65, while FactSet is expecting $7.36. Sales are expected to rise in the low single-digits, unchanged from earlier guidance. The stock has fallen 21% in the year to date, while the S&P 500 SPX, -1.43% has gained 9%.
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