Bristol Myers Reports Strong Q4 Earnings, Exceeds Expectations

The pharmaceutical giant's latest financial results showcase significant growth, driven by new drug sales and strategic acquisitions.

Bristol Myers Squibb Co. reported fourth-quarter earnings of $1.76 billion, surpassing Wall Street expectations.
Sales of new anemia drug Reblozyl and blood cancer drug Revlimid outperformed forecasts, contributing to a revenue of $11.48 billion.
The company announced major acquisitions, including a $14.1 billion deal for Karuna Therapeutics and a $4.1 billion buyout of RayzeBio.
Bristol Myers expects full-year earnings in the range of $7.10 to $7.40 per share, with a forecasted revenue increase by single digit percentages from 2023.
Despite strong quarterly performance, the company's stock has decreased 5% since the beginning of the year, reflecting broader market trends.