Bristol-Myers Squibb (NYSE:BMY) saw its stock fall 5% in pre-market Thursday despite the pharma giant raising the lower end of its full-year profit outlook.
The company now sees FY EPS in the range of $7.50-7.65, up from the prior forecast of $7.35-7.65 and the consensus of $7.36.
For Q3, the company reported EPS of $2.00, $0.22 better than the analysts' estimate of $1.78. Revenue for the quarter came in at $11 billion versus the consensus estimate of $10.98 billion.
“My excitement for the company's future is centered on the diversification of our business, the breadth of our new product portfolio and the strength of our pipeline,” said Giovanni Caforio, M.D., board chair and chief executive officer, Bristol-Myers Squibb.