Bristol Myers swings to profit to beat second-quarter estimates as Opdivo returns to growth

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Bristol Myers Squibb Co. BMY, -0.30% said Wednesday it swung to a nett of $1.055 billion, oregon 47 cents a share, successful the 2nd quarter, aft a nonaccomplishment of $85 million, oregon 4 cents a share, successful the year-earlier period. Adjusted per-share net came to $1.93, up of the $1.89 FactSet consensus. Revenue roseate to $11.703 cardinal from $10.129 billion, besides up of the $11.269 cardinal FactSet consensus. "We delivered a beardown 4th crossed each of our 4 therapeutic areas, including gathering momentum for our caller merchandise portfolio and Opdivo returning to growth," Chief Executive Dr. Giovanni Caforio said successful a statement. Opdivo was archetypal approved by the Food and Drug Administration successful 2014 arsenic a attraction for melanoma and has since won support for different indications. Sales of Opdivo roseate 16% successful the 2nd 4th to $1.910 billion. Bristol Myers updated its full-year EPS guidance to a scope of $2.77 to $2.97 from a anterior scope of $3.18 to $3.38. It inactive expects full-year adjusted EPS of $7.35 to $7.55. It expects worldwide revenues to turn successful the high-single digits. Shares were level premarket, but person gained 8.8% successful the twelvemonth to date, portion the S&P 500 SPX, -0.47% has gained 17%.

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