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Bristol-Myers Squibb Reports Q3 2018: Revenues, Product Sales Up

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Top line

Bristol-Myers Squibb (BMY) reported its third quarter of fiscal 2018 results on October 25. Its total revenues increased to $5.69 billion from $5.25 billion in the third quarter of fiscal 2017.

Its product sales were $5.43 billion compared to $4.86 billion in Q3 2017. Sales of Opdivo and Eliquis increased 42% and 28%, respectively, year-over-year.

Alliances and other revenues decreased to $258 million from $392 million in the third quarter of fiscal 2017. Its cost of products sold increased to $1.65 billion from $1.58 billion in Q3 2017.

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Operational performance

Bristol-Myers Squibb’s third-quarter research and development expenses decreased to $1.28 billion from $1.56 billion in the third quarter of fiscal 2017. Its marketing, selling, and administrative expenses decreased to $1.1 billion from $1.16 billion in Q3 2017.

Driven by the uptick in its top line and a strong operating performance, Bristol-Myers Squibb reported net income of $1.9 billion in the third quarter compared to $845 million in Q3 2017. That translates to net EPS of $1.16 compared to $0.51 in the third quarter of fiscal 2017.

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