Bristol-Myers beats by $0.03, beats on revs; reaffirms FY14 EPS guidance
Reports Q3 (Sep) earnings of $0.45 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus Estimate of $0.42; revenues fell 3.5% year/year to $3.92 bln vs the $3.82 bln consensus.
"Our financial results in the third quarter reflect our continued focus on balancing long-term growth with short-term performance, as we achieved significant progress in our pipeline and saw strong in-market performance for key products including Eliquis, Yervoy, Sprycel and Orencia."
- Excluding the divested Diabetes Alliance, global revenues increased 7%. U.S. revenues decreased 3% to $2.0 billion in the quarter compared to the same period a year ago. International revenues decreased 4%. Gross margin as a percentage of revenues was 74.3% in the quarter compared to 71.1% in the same period a year ago.
"Our financial results in the third quarter reflect our continued focus on balancing long-term growth with short-term performance, as we achieved significant progress in our pipeline and saw strong in-market performance for key products including Eliquis, Yervoy, Sprycel and Orencia."