3 Reasons Bristol Myers Squibb's Revenue Skyrocketed in Q1
Bristol Myers Squibb (NYSE: BMY) announced its first-quarter results before the market opened on Thursday. The big pharma company did exactly what it needed to, delivering strong growth and handily beating analysts' estimates.
The consensus Wall Street expectation was that BMS would report adjusted earnings of $1.49 per share. The drugmaker's actual Q1 adjusted EPS came in at $1.72, up 56% year over year.
Revenue growth was even more impressive. The average analyst estimate called for Q1 revenue of slightly over $10 billion. BMS reported Q1 revenue of nearly $10.8 billion, an 82% jump from the prior-year period. What fueled this skyrocketing revenue growth? Here are the three top reasons.
Source Fool.com
