B-MS opens down as profits miss estimates

26 October 2017

Bristol-Myers Squibb (NYSE: BMY) has posted profits from the latest quarter that missed analysts’ expectations.

The US pharma major did beat Wall Street estimates with its revenue from the third quarter, of $5.25 billion, which was a 7% rise on the same three months of 2016 and above the $5.19 billion that analysts expected.

Earnings for the latest quarter declined to $845 million, or $0.51 per share, from $1.2 billion, or $0.72 per share in the year-earlier period. Adjusted earnings-per-share were $0.75, below the Wall Street estimate of $0.77.

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