Why Bristol Myers Squibb Stock Fell Today

Shares of Bristol Myers Squibb (NYSE: BMY) were trading 4.9% lower as of 2:50 p.m. EDT on Thursday following the company's announcement of its first-quarter results before the market opened.

Bristol Myers Squibb missed analysts' Q1 estimates for both the top and bottom lines. Revenue rose 3% year over year to $11.1 billion, a little short of the consensus Wall Street estimate of $11.12 billion. Adjusted earnings were flat year over year at $4 billion, or $1.74 per share. The analysts' average estimate had been for adjusted earnings of $1.82 per share.

Image source: Getty Images.

Source Fool.com