Shares of Bristol Myers Squibb Co. BMY, +1.44% were up 1.1% in premarket trading on Friday after the drug maker beat earnings expectations for the final quarter of the year. Bristol had earnings of $2.4 billion, or $1.07 per share, in the fourth quarter of 2021, after a loss of $10.0 billion, or $4.45 per share, in the same quarter a year ago. Adjusted earnings per share were $1.83, against a FactSet consensus of $1.80. The company reported revenue of $11.9 billion for the quarter, driven by double-digit growth of the blood thinner Eliquis (to $2.6 billion) and oncology treatment Opdivo (to about $2.0 billion), compared with $11.0 billion in revenue in the fourth quarter of 2020. The FactSet consensus for total revenue was $12.0 billion. Bristol issued guidance for 2022, saying it expects adjusted EPS of $7.65 to $7.95 and revenue of approximately $47.0 billion. The FactSet consensus for full-year revenue in 2022 is $47.2 billion. The company’s stock is up 4.1% over the past year, while the broader S&P 500 SPX, +0.52% has gained 16.9%.
