Early Friday, Bristol Myers Squibb (BMY) reported adjusted earnings of $1.70 per share on $11.5 billion in fourth-quarter sales. BMY stock added 2.5% in Friday’s premarket trade.

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Analysts polled by FactSet expected Bristol Myers to earn $1.55 per share on $11.19 billion in sales. During the same three months in 2023, the pharma company earned $1.82 a share on $11.41 billion in sales.

Importantly, Bristol Myers’ biggest cancer drug, Opdivo, and blood thinner Eliquis generated a respective $2.387 billion and $2.874 billion. The Street expected Opdivo to bring in $2.44 billion and called for $2.71 billion from Eliquis. Eliquis was developed in partnership with Pfizer (PFE).

For the year, Bristol Myers guided earnings expectations to between $7.10 and $7.40. Revenue is expected to increase at a low single-digit pace.  Analysts covering BMY stock expected adjusted earnings of $7.02 per share and $45.67 billion in sales.

BMY stock’s premarket advance pointed to its first gain in four sessions, if the move holds through the opening bell on today’s stock market. BMY  shares ended Thursday down 5.1% so far for the year.

More to follow.

Follow Allison Gatlin on X, the platform formerly known as Twitter, at @IBD_AGatlin.

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