Bristol Myers Squibb Surges on Strong Q2 Performance and Raised Guidance

The pharmaceutical giant beats earnings expectations and anticipates higher revenue growth driven by new and existing drug sales.

Bristol Myers Squibb's Q2 revenue reached $12.2 billion, surpassing analyst estimates of $11.55 billion.
Adjusted earnings per share for Q2 were $2.07, significantly higher than the expected $1.63.
Sales of key drugs like Eliquis and Opdivo contributed to the company's robust performance.
The company raised its full-year revenue and earnings guidance, projecting continued growth.
Cost-cutting measures are expected to save $1.5 billion by 2025, further boosting profitability.