Shares of Bristol Myers Squibb Co. BMY shed 2.2% in premarket trading Thursday, after the drugmaker missed second-quarter earnings expectations and cut its full-year outlook, amid a more rapid than expected decline in sales of its cancer treatment Revlimid. Net income rose to $2.07 billion, or 99 cents a share, from $1.42 billion, or 66 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $1.75 missed the FactSet consensus of $1.98. Revenue fell 5.
2% in premarket trading Thursday, after the drugmaker missed second-quarter earnings expectations and cut its full-year outlook, amid a more rapid than expected decline in sales of its cancer treatment Revlimid. Net income rose to $2.07 billion, or 99 cents a share, from $1.42 billion, or 66 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $1.75 missed the FactSet consensus of $1.98. Revenue fell 5.6% to $11.
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