Bristol-Myers (BMY) Q4 Earnings Miss Estimates

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New York-based Bristol-Myers Squibb CompanyBMY is a major producer and distributor of pharmaceuticals and other healthcare related products. The company's key oncology products include Opdivo, Sprycel, Yervoy and the recently launched Empliciti. Beyond oncology, the company remains focused on immunology and cardiovascular drugs like Orencia and Eliquis. It also markets drugs for HBV and HCV like Baraclude and Daklinza. The company's virology portfolio comprises products like Reyataz and the Sustiva franchise.

Bristol-Myers is actively building its partnership portfolio and pursuing strategic acquisitions across therapeutic areas including immunoscience, oncology, fibrosis and genetically defined diseases.

However, like many of its peers, Bristol-Myers is facing generic competition for several of its key products. Moreover, its HIV and HCV businesses are under competitive pressure. In this scenario, investor focus remains on company's high-profile immuno-oncology drug, Opdivo apart from the usual top-and bottom-line numbers.

Bristol-Myers has been seen to consistently beat earnings expectations. The company's earnings surpassed expectations in each of the last four quarters, with an average positive surprise of 17.32%.

Bristol-Myers Squibb Company Price

Bristol-Myers Squibb Company Price | Bristol-Myers Squibb Company Quote

Currently, Bristol-Myers has a Zacks Rank #3 (Hold), but that could definitely change following the company's earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: Bristol-Myers misses on fourth-quarter 2016 earnings. The company reported EPS of 63 cents while our consensus called for EPS of 66 cents.

Revenues : Revenues were, however, above expectations. Bristol-Myers posted revenues of $5.23 billion, compared to our consensus estimate of $5.15 billion.

2017 Guidance: Bristol-Myers also provided earnings outlook for 2017. The company expects earnings in the range of $2.70 to $2.90 per share. The Zacks Consensus Estimate for earnings stands at $2.92 per share.

Pre-Market Trading: Shares are down around 2% in pre-market trading .

Check back later for our full write up on this BMY earnings report later!

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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