Bristol Myers Squibb Witnesses Strong Demand For 'Newer Drugs' As Q2 Earnings Beat Expectations, Raises 2024 Profit Forecast
Portfolio Pulse from Vandana Singh
Bristol Myers Squibb (NYSE:BMY) reported strong Q2 earnings, with revenues of $12.20 billion, beating expectations. The growth was driven by newer drugs like Opdivo and Eliquis. The company raised its 2024 profit forecast and expects revenue growth at the upper end of the low single-digit range.
July 26, 2024 | 12:08 pm
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Bristol Myers Squibb reported Q2 revenues of $12.20 billion, beating expectations. The growth was driven by newer drugs like Opdivo and Eliquis. The company raised its 2024 profit forecast and expects revenue growth at the upper end of the low single-digit range.
Bristol Myers Squibb's strong Q2 earnings, driven by high demand for newer drugs, and the raised 2024 profit forecast are likely to positively impact the stock price in the short term. The premarket increase of 5.17% reflects investor optimism.
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