Bristol Myers Adjusts FY23 Outlook: Expects Revlimid Revenue of $6B ($5.5B Prior), Adj. EPS $7.50-$7.65 ($7.35-$7.65 Prior) Vs. $7.37 Estimate
Portfolio Pulse from Benzinga Newsdesk
Bristol Myers has revised its FY23 outlook, expecting Revlimid revenue of $6B, up from the previous estimate of $5.5B. The company also adjusted its EPS forecast to $7.50-$7.65, compared to the prior range of $7.35-$7.65 and against an estimate of $7.37. Other key GAAP and Non-GAAP guidance assumptions remain unchanged.
October 26, 2023 | 11:03 am
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Bristol Myers has increased its FY23 revenue and EPS forecasts, which could positively impact its stock price in the short term.
Companies often see their stock prices increase when they raise their revenue and earnings forecasts, as this signals stronger future performance. Bristol Myers' upward revision of its FY23 outlook could therefore lead to a short-term increase in its stock price.
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