RTTNews | Oct 27, 2021 07:28AM EDT

07:27 Wednesday, October 27, 2021 (RTTNews.com) - While reporting financial results for the third quarter on Wednesday, biopharmaceutical company Bristol-Myers Squibb Co. (BMY) raised its adjusted earnings guidance for the full-year 2021.

For fiscal 2021, the company now projects earnings in a range of $2.68 to $2.83 per share, down from the prior forecast of $2.77 to $2.97 per share, and also raised its adjusted earnings guidance to a range of $7.40 to $7.55 per share from the prior forecast range of $7.35 to $7.55 per share. Worldwide revenue is expected to increase in the high-single digits.

On average, 17 analysts polled by Thomson Reuters expect the company to report earnings of $7.47 per share on revenues growth of 9.2 percent to $46.44 billion for the year. Analysts' estimates typically exclude special items.

For the third quarter, the company reported net income attributable to Bristol-Myers Squibb of $1.55 billion or $0.69 per share, down from $1.87 billion or $0.82 per share in the prior-year quarter. Excluding items, adjusted net earnings per share for the quarter was $2.00, compared to last year's $1.63.

Bristol-Myers Squibb posted quarterly revenues of $11.62 billion, an increase of 10 percent from the same period a year ago.

Analysts expected quarterly earnings of $1.92 per share on revenues of $11.58 billion for the quarter.

U.S. revenues increased 12 percent to $7.3 billion and international revenues increased 8 percent to $4.3 billion from last year.

Read the original article on RTTNews ( https://www.rttnews.com/3236071/bristol-myers-squibb-boosts-fy21-outlook-as-q3-results-top-estimates-quick-facts.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved