Bristol Myers Squibb Surpasses Q3 Expectations, Raises 2024 Outlook

The pharmaceutical giant's strong performance is driven by robust sales of Eliquis and new growth drugs.

Bristol Myers Squibb reported third-quarter revenue of $11.89 billion, exceeding analyst expectations of $11.28 billion.
The company's Growth Portfolio, including drugs like Reblozyl and Breyanzi, saw a revenue increase of 18% year-over-year.
Eliquis sales rose 11% to $3 billion, helping drive the company's overall revenue growth.
Bristol Myers raised its 2024 adjusted earnings guidance to $0.75-$0.95 per share, up from a previous forecast of $0.60-$0.90.
Cost-cutting measures, including a $1.5 billion savings plan by 2025, are aimed at supporting key drug brands and R&D initiatives.