Why Bristol Myers Squibb Stock Topped the Market on Thursday
It notched convincing beats on analyst estimates with its second-quarter performance.
Overview
Not for the first time this year, Bristol Myers Squibb (NYSE: BMY) posted an impressive quarterly earnings report Thursday morning. Investors clearly found much to like in the second-quarter figures, as they greeted the news by pushing the pharmaceutical company's stock up by almost 2.8%, easily outpacing the benchmark S&P 500 index's 1.5% rise.
For the period, Bristol Myers Squibb's revenue was $12.97 billion, representing a 6% year-over-year improvement. Hotter growth could be found on the bottom line, with net income not under generally accepted accounting principles (non-GAAP, or adjusted) zooming to $4.2 billion ($2.04 per share) from the year-ago quarter's $3 billion.
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Originally published at www.fool.com.