PRINCETON, N.J. (AP) — PRINCETON, N.J. (AP) — Bristol Myers Squibb Co. (BMY) on Friday reported fourth-quarter earnings of $1.76 billion.
The Princeton, New Jersey-based company said it had profit of 87 cents per share. Earnings, adjusted for non-recurring costs, were $1.70 per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.52 per share.
The biopharmaceutical company posted revenue of $11.48 billion in the period, also exceeding Street forecasts. Nine analysts surveyed by Zacks expected $11.08 billion.
For the year, the company reported profit of $8.03 billion, or $3.86 per share. Revenue was reported as $45.01 billion.
Bristol Myers expects full-year earnings in the range of $7.10 to $7.40 per share.
Bristol Myers shares have decreased 5% since the beginning of the year, while the S&P's 500 index has risen nearly 3%. The stock has fallen 32% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BMY at https://www.zacks.com/ap/BMY