What were the main drivers of Bristol-Myers Squibb's revenue growth in this quarter?

The primary drivers of revenue growth were strong sales performances from key products, particularly Opdivo and Eliquis. Opdivo saw a significant increase in sales due to expanded indications and market acceptance, while Eliquis continued its growth trajectory supported by increased commercial acceptance as a novel oral anticoagulant.

How has the company's profitability changed compared to the previous year?

Profitability has improved dramatically. For the three months ended June 30, 2016, Bristol-Myers Squibb reported a net earning of $1.17 billion, a significant turnaround from a net loss of $130 million in the same period of 2015. This improvement is reflected in the diluted EPS, which increased from -$0.08 to $0.69.

What are the company's recent strategic moves in terms of acquisitions and divestitures?

Bristol-Myers Squibb has been active in portfolio management. In July 2016, they acquired Cormorant Pharmaceuticals to enhance their immuno-oncology pipeline, and in April 2016, they acquired Padlock Therapeutics to focus on autoimmune diseases. They also divested the business comprising an alliance with Reckitt Benckiser Group plc and sold their investigational HIV medicines business to ViiV Healthcare.

How is the company managing its cash and capital resources?

The company maintained a strong liquidity position with $7.93 billion in cash, cash equivalents, and marketable securities as of June 30, 2016. They generated $25 million in cash from operating activities for the six months ended June 30, 2016, and actively managed investing activities, including higher net redemptions of marketable securities and proceeds from business divestitures. The company also repurchased $231 million of common stock and paid $1.28 billion in dividends during the first half of 2016.

BRISTOL MYERS SQUIBB CO 10-Q Quarterly Report Q2 FY2016

Summary

Bristol-Myers Squibb (BMY) reported strong revenue growth in the second quarter and first half of 2016, driven primarily by significant increases in sales of key products like Opdivo and Eliquis. Total revenues rose by 17% for the quarter and 13% for the six-month period, reaching $4.87 billion and $9.26 billion, respectively. This top-line performance translated into a substantial improvement in profitability, with net earnings attributable to BMS soaring from a loss of $130 million in the prior year's quarter to a profit of $1.17 billion, and diluted EPS improving from -$0.08 to $0.69. The company's strategic focus on immuno-oncology, particularly with Opdivo, is clearly paying dividends, as evidenced by its rapidly growing sales and expanded indications. Furthermore, the company has been actively managing its portfolio through strategic acquisitions and divestitures, including the recent acquisitions of Cormorant Pharmaceuticals and Padlock Therapeutics, aimed at strengthening its pipeline in oncology and autoimmune diseases, respectively. Despite ongoing legal proceedings and a complex market environment, BMY demonstrates a robust financial position with healthy cash flow from operations and investing activities.

Financial Highlights

56 data points

Beta

Revenue

$4.87B

0.8% Gross Margin

Net Income

$1.17B

0.2% Net Margin

EPS (Diluted)

$0.69

Total Assets

$32.83B

Cash & Equivalents

$2.93B

Free Cash Flow

$178.00M

Financial Statements

Beta

Revenue	$4.87B
Cost of Revenue	$1.21B
Gross Profit	$3.67B
R&D Expenses	$1.27B
SG&A Expenses	$1.24B
Operating Expenses	$3.26B
Interest Expense	$42.00M
Net Income	$1.17B
EPS (Basic)	$0.70
EPS (Diluted)	$0.69
Shares Outstanding (Basic)	1.67B
Shares Outstanding (Diluted)	1.68B

Key Highlights

1Total Revenues increased by 17% year-over-year to $4.87 billion for Q2 2016.
2Net Earnings Attributable to BMS improved significantly, turning a $130 million loss in Q2 2015 to a $1.17 billion profit in Q2 2016.
3Diluted Earnings Per Share (EPS) rose from -$0.08 in Q2 2015 to $0.69 in Q2 2016.
4Opdivo and Eliquis were key growth drivers, with Opdivo sales reaching $840 million in Q2 2016 (up from $122 million in Q2 2015) and Eliquis sales reaching $777 million (up from $437 million).
5The company made strategic acquisitions, including Cormorant Pharmaceuticals and Padlock Therapeutics, to bolster its R&D pipeline.
6Cash, cash equivalents, and marketable securities stood at $7.93 billion as of June 30, 2016.
7The company repurchased $231 million of common stock in the first half of 2016, indicating a return of capital to shareholders.

BRISTOL MYERS SQUIBB CO Quarterly Report for Q2 Ended Jun 30, 2016

Summary

Financial Highlights

Key Highlights

Frequently Asked Questions