Summary by Moomoo AI
Bristol-Myers Squibb (BMS) reported a 9% increase in total revenues to $12.201 billion for the second quarter of 2024 compared to $11.226 billion in the same period of 2023. GAAP diluted earnings per share (EPS) decreased from $0.99 in Q2 2023 to $0.83 in Q2 2024, while non-GAAP EPS rose from $1.75 to $2.07. The decline in GAAP EPS was attributed to specified items including intangible asset impairments and higher interest expenses due to recent acquisitions. Non-GAAP EPS growth was driven by higher revenues, partially offset by increased interest expenses and lower royalty income. U.S. revenues grew by 13% in Q2, while international revenues saw a 1% decline due to foreign exchange impacts. Key product approvals and developments included the FDA's accelerated approval of Krazati for colorectal cancer and Breyanzi for...Show More