Bristol Myers Lifts Outlook as 2Q Profit, Revenue Rise

By Connor Hart

Bristol Myers Squibb raised its outlook for the year after notching higher profit and revenue in the latest quarter, boosted by its portfolio of newer treatments.

The biopharmaceutical company said Thursday it now expects earnings of $6.75 to $7 a share on revenue of $49 billion to $50 billion, up from a prior forecast for earnings of $6.05 to $6.35 a share on revenue of $46 billion to $47.5 billion.

Analysts polled by FactSet are looking for earnings of $6.34 a share on revenue of $47.45 billion.

Chief Executive Chris Boerner said the company's consistent execution and continued momentum gave it the confidence to raise its outlook.

The new guidance came as Bristol Myers Squibb posted a second-quarter profit of $3.32 billion, or $1.62 a share, compared with $1.31 billion, or 64 cents a share, a year earlier.

Stripping out certain one-time items, earnings came in at $2.04 a share. Analysts had expected adjusted earnings of $1.60 a share.

Quarterly revenue rose 5.7% to $12.97 billion, ahead of Wall Street models for $11.74 billion.

Revenue across Bristol Myers Squibb's growth portfolio, which consists of newer treatments, grew 15% to $7.56 billion. The gain was driven in part by Opdivo Qvantig, a cancer treatment that works similarly to Opdivo, but can be administered faster and not at an infusion center.

Camzyos, Breyanzi and Reblozyl--drugs that are designed to treat heart disease, lymphoma and blood disorders, respectively--all logged higher sales as well.

Revenue across the company's legacy portfolio fell roughly 4% from last year, hurt by challenges from generic brands.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

July 30, 2026 07:14 ET (11:14 GMT)