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Investing.com -- Bristol-Myers Squibb lifted its full-year outlook slightly after reporting third-quarter earnings and revenue that beat market expectations.
The company reported Q3 earnings per share (EPS) of $1.63, exceeding analysts’ estimates of $1.52. Revenue rose 3% to $12.2 billion, also ahead of the consensus forecast of $11.8 billion.
Sales from the company’s Growth Portfolio climbed 18% year over year, or 17% excluding currency effects, to $6.9 billion.
“We delivered strong results this quarter as a result of continued execution across the business and ongoing Growth Portfolio momentum,” said Christopher Boerner, board chair and CEO of Bristol Myers Squibb.
“We’re focused on building for the future by accelerating innovation, advancing our pipeline, staying agile and delivering more transformational medicines to more patients."
The drugmaker slightly raised its full-year guidance, beating analyst expectations. It now expects 2025 earnings per share between $6.40 and $6.60, compared with a prior range of $6.35 to $6.65 and market expectations of $6.36.
Full-year revenue is projected at $47.5 billion to $48 billion, up from the previous $46.5 billion to $47.5 billion, versus a consensus of $47.34 billion.