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Shares of Bristol-Myers Squibb Co jumped over 8% on Friday after the firm topped second quarter analyst estimates on multiple counts. The pharma giant reported Q2 revenue at $12.20 billion, which came in higher than a Street estimate of $1.63 billion.Adjusted earnings per share (EPS) came in at $2.07 as compared to an expected loss of $1.63. Following the announcement, retail sentiment flipped into the extremely bullish territory (90/100) hitting a one-year high supported by extremely high message volume (93/100).<figure class="image"><a href="https://stocktwits.com/symbol/BMY"><img style="aspect-ratio:1594/438;" src="https://st-everywhere-cms-prod.s3.us-east-1.amazonaws.com/Screenshot_2024_07_26_at_11_39_11_AM_e2726d6c4a.png" alt="Retail sentiment trends in the extremely bullish territory for Bristol-Myers Squibb" width="1594" height="438"></a><figcaption>Retail sentiment trends in the extremely bullish territory for Bristol-Myers Squibb</figcaption></figure>During the second quarter, revenue rose 9% year-over-year (YoY) while EPS witnessed a growth of 18% YoY. The revenue was driven by the firm’s Growth Portfolio and its drug Eliquis.US revenues increased 13% to $8.80 billion, primarily due to the growth and legacy portfolios while international revenues fell 1% to $3.40 billion, primarily due to the negative impact from foreign exchange of 7% and Revlimid.As far as product revenues are concerned, the firm’s Growth Portfolio worldwide revenues increased 18% to $5.60 billion, primarily driven by higher demand for Opdivo, Reblozyl, Camzyos and Opdualag. Revenues for the Legacy Portfolio in the second quarter grew 2% to $6.60 billion, driven by higher demand for Eliquis and Pomalyst.The firm has raised its full-year guidance, now expecting total revenues in the upper end of low-single digit range compared to low single-digit increase it guided in April. Diluted EPS was ratcheted up to $0.60-$0.90 from an earlier guidance of $0.40-$0.70.Christopher Boerner, board chair and chief executive officer at Bristol-Myers Squibb said as the firm moves into the second half of the year, it remains focused on prioritizing opportunities with the greatest growth potential and impact for patients, including the anticipated U.S. launch of KarXT. &nbsp;Meanwhile, retail investors are viewing this as a potential turning point for the stock. One Stocktwits user named ‘Namhguab’ believed the stock was undervalued near the $42 level and still sees further upside following today’s news.<figure class="image"><a href="https://stocktwits.com/Namhguab/message/580799100"><img style="aspect-ratio:1542/356;" src="https://st-everywhere-cms-prod.s3.us-east-1.amazonaws.com/Screenshot_2024_07_26_at_11_40_21_AM_fcf9d0f598.png" alt="Stocktwits user Namhguab's post on Bristol-Myers Squibb" width="1542" height="356"></a><figcaption>Stocktwits user Namhguab's post on Bristol-Myers Squibb</figcaption></figure>Photo Courtesy: Bristol-Myers Squibb

Bristol Myers Earnings Beat: Retail Sentiment Hits One-Year High

Shares of Bristol-Myers Squibb Co jumped over 8% on Friday after the firm topped second quarter analyst estimates on multiple counts. The pharma giant reported Q2 revenue at $12.20 billion, which came in higher than a Street estimate of $1.63 billion.

Shares of Bristol-Myers Squibb Co jumped over 8% 

Equity

The biopharma company’s adjusted earnings per share (EPS) came in at $2.07 as compared to an expected loss of $1.63. Following the announcement, retail sentiment flipped into the extremely bullish territory (90/100) hitting a one-year high.

Bristol-Myers Squibb Unveils Q2 2024 Financial Strategies

Bristol-Myers Squibb (BMY) just unveiled an update. Bristol Myers Squibb has made a significant announcement available on their website, detailing...

Bristol Myers Squibb Reports Second Quarter Financial Results for 2024

Bristol Myers Squibb (NYSE: BMY) today reports results for the second quarter of 2024. Our second quarter results reflect progress against our strategy to position BMS for long-term, sustainable...

Bristol-Myers Squibb, Deckers Outdoor And 3 Stocks To Watch Heading Into Friday

Key Events This Week: Core PCE, GDP, And Lots Of Earnings

Key Events This Week: Core PCE, GDP, And Lots Of Earnings

 As we head into another week full of unknowns, DB's Jim Reid notes this morning that one question that we don't need to ask...

Bristol Myers Squibb Receives European Medicines Agency Validation of Application for Opdivo (nivolumab) plus Yervoy (ipilimumab) for First-Line Treatment of Unresectable or Advanced Hepatocellular Carcinoma

Bristol Myers Squibb (NYSE: BMY) today announced that the European Medicines Agency (EMA) validated its Type II variation application for Opdivo (nivolumab) plus Yervoy (ipilimumab) as a potential...

What the Options Market Tells Us About Bristol-Myers Squibb

Bristol-Myers Squibb Unusual Options Activity For July 15

Spotlight on Bristol-Myers Squibb: Analyzing the Surge in Options Activity

How Is The Market Feeling About Bristol-Myers Squibb?

Bristol Myers Squibb Co. engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. It offers small molecules, products produced from biological processes called biologics, and chimeric antigen receptor (CAR-T) cell therapies. The company was founded in August 1933 and is headquartered in Princeton, NJ.

Volume	36.63M
52-Wk High	$63.41
52-Wk Low	$39.35

BMY Bristol-Myers Squibb Co.

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