Bristol-Myers Squibb Q1 revenue up 5% to $11.9B; GAAP loss per share $5.89 on acquired IPRD charges

BRISTOL MYERS SQUIBB CO

2024-Q1 EPS reported -$5.89 revenue$11,865,000,000

Q1 revenues $11,865M (+5% reported, +6% ex-FX); growth portfolio revenues $4,767M (+8%, +11% ex-FX).
GAAP loss per share ($5.89); Non-GAAP loss per share ($4.40); includes $6.30/share impact from acquired IPRD and licensing.
Completed acquisitions of Karuna Therapeutics, RayzeBio, Mirati Therapeutics, and SystImmune collaboration.
Announced strategic productivity initiative targeting ~$1.5B in cost savings, majority reinvested for innovation.
Updated 2024 non-GAAP EPS and line-item guidance to reflect recent transactions; Abecma and Breyanzi received new U.S. approvals.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BRISTOL MYERS SQUIBB CO reported the first quarter of 2024 results: revenue $11,865, EPS (5.89).

Period: the first quarter of 2024
Revenue: $11,865
EPS: (5.89)
Result: reported results

Exact text from the filing

get the most promising medicines to patients as quickly as possible." 1 First Quarter $ in millions, except per share amounts 2024 2023 Change Change Excl. F/X** Total Revenues $11,865 $11,337 5 % 6 % (Loss)/Earnings Per Share — GAAP* (5.89) 1.07 N/A N/A (Loss)/Earnings Per Share — Non-GAAP* ** (4.40) 2.05 N/A N/A Acquired IPRD charge and Licensing Income Net

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Source: SEC EDGAR

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