Published on 26 Apr 2024 on Benzinga
Bristol-Myers Q1 Loss Narrower Than Expected, Sales Beat - ADMA Biologics (NASDAQ:ADMA), ANI...
Bristol-Myers Squibb Company BMY reported an adjusted loss per share of $4.40, narrower than the Zacks Consensus Estimate of a loss of $4.53 per share. In the year-ago quarter, BMY posted adjusted earnings per share of $2.05.
The year-over-year deterioration can be attributed to higher acquired IPRD costs, reflecting the impact of recent acquisitions and an increase in operating expenses. The bottom-line was also negatively impacted due to higher interest expenses resulting from new debt issuance to fund recent acquisitions.