This quarter, analysts are expecting Bristol-Myers Squibb\u2019s revenue to decline 6.7% year on year to $11.38 billion, a reversal from the 8.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.13 per share.<\/p>\n
Bristol-Myers Squibb Total Revenue <\/p>\n
Heading into earnings, analysts covering the company have grown increasingly bearish with revenue estimates seeing 5 downward revisions over the last 30 days (we track 14 analysts). Bristol-Myers Squibb has only missed Wall Street\u2019s revenue estimates once over the last two years, exceeding top-line expectations by 3% on average.<\/p>\n
Looking at Bristol-Myers Squibb\u2019s peers in the pharmaceuticals segment, only Merck has reported results so far. It missed analysts\u2019 revenue estimates by 1.1%, posting year-on-year sales declines of 1.9%.<\/p>\n
Read our full analysis of Merck\u2019s earnings results here<\/a>.<\/p>\n Investors in the pharmaceuticals segment have had fairly steady hands going into earnings, with share prices down 1.8% on average over the last month. Bristol-Myers Squibb is up 1.5% during the same time and is heading into earnings with an average analyst price target of $56.05 (compared to the current share price of $46.98).<\/p>\n Unless you\u2019ve been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story<\/a>.<\/p>\n