Q1 adj EPS loss of 4.4 usd, above expectations (Il Sole 24 Ore Radiocor) - New York, 25 Apr - The US pharmaceutical group Bristol Myers Squibb said that in the first quarter revenue rose 5% to 11.865 billion dollars.

In the period the group swung to a net loss of 11.911 billion dollars from a profit of 2.262 billion a year earlier due to one-time charges associated with its recently closed deals.

Its adjusted loss per share was 4.40 dollars compared to expectations for a loss of 4.44.

The pharmaceutical giant confirmed its full-year revenue forecast of a low single-digit increase but lowered its 2024 adjusted earnings guidance to 0.40-0.70 dollars per share to reflect the impact of recent deals.

It launched a program to cut 1.5 billion dollars in costs by 2025, and said it would reinvest the money in drug development.

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(RADIOCOR) 25-04-24 15:09:27 (0480) 5 NNNN