Biotechnology company Bristol Myers Squibb (NYSE: BMY) said its first-quarter adjusted earnings increased modestly, despite a decline in revenues.
Net income attributable to shareholders was $2.26 billion or $1.07 per share in the March quarter, compared to $1.28 billion or $0.59 per share in the comparable period of 2022. Adjusted profit increased 5% annually to $2.05 per share.
Meanwhile, first-quarter revenues decreased 3% from last year to $11.34 billion. Domestic sales rose by 4% while international sales decreased by 16%.