A 4.6% decline in the weighted-average diluted share count to 2.1 billion also propelled Bristol Myers' adjusted diluted EPS higher. And it marked the ninth quarter out of the past 10 that Bristol Myers has accomplished this feat.Īside from the increased total revenue base, the company's non-GAAP net margin soared 360 basis points higher year-over-year to 34.9% in the second quarter. This comfortably outpaced the average analyst forecast of $1.79.

LOE products generated $2.7 billion in revenue during the quarter, which was down 21.6% year-over-year.īristol Myers' adjusted diluted EPS surged 18.4% higher over the year-ago period to $1.93 in the second quarter.

These revenue gains were more than enough to offset the revenue decline from the company's loss-of-exclusivity (LOE) products, headlined by the cancer drug Revlimid. The growth was led by high-single-digit and low-double-digit revenue growth, respectively, from Eliquis, a blood thinner co-owned with Pfizer ( PFE -2.25%), and the cancer drug Opdivo.īristol-Myers' new product portfolio, featuring the anemia drug Reblozyl, posted $482 million in revenue in the quarter - more than double the year-ago period.

This was up by 8.6% over the year-ago period. The company's existing product portfolio, called in-line products, produced $8.7 billion in revenue for the quarter.

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