Summary by Moomoo AI
On October 31, 2024, Bristol-Myers Squibb Company (BMS) released its financial results for the third quarter of 2024. The company reported revenues of $11.9 billion, marking an 8% increase compared to the same period in the previous year, with a notable 10% increase when adjusted for foreign exchange impacts. The growth was primarily driven by the company's Growth Portfolio, which includes products like Reblozyl, Breyanzi, Camzyos, and Opdualag. U.S. revenues rose by 9% to $8.2 billion, while international revenues saw a 7% increase to $3.7 billion. GAAP earnings per share (EPS) were reported at $0.60, while non-GAAP EPS stood at $1.80. The company also highlighted the U.S. approval of Cobenfy, a new treatment for schizophrenia, and raised its revenue guidance for 2024 to approximately 5%, with non-GAAP EPS estimates increased to a range of $0.75 to $0.95. The financial report included reconciliations between non-GAAP financial measures and comparable GAAP financial measures, with reasons for presenting such non-GAAP financial measures.
