Bristol-Myers Squibb Company (NYSE: BMY) Thursday reported stronger-than-expected fourth-quarter results. The company’s stock gained in the pre-market session soon after the announcement.
The pharmaceutical company reported a 39% growth in fourth-quarter revenue of $11.1 billion, which surpassed Wall Street’s consensus forecast. Consequently, adjusted earnings rose 20% annually to $1.46 per share from $1.22 per share in the fourth quarter of 2019.
On an unadjusted basis, it was a net loss of $10.0 billion or $4.45 per share, compared to a loss of $1.1 billion or $0.55 per share last year.
BMY shares gained 1% immediately after the announcement early Thursday. The stock had closed the previous session lower.
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