Q4 25 EPS
$1.26
MISS 22.70%
Est. $1.63
Q4 25 Revenue
$12.50B
BEAT +1.68%
Est. $12.30B
vs S&P Since Q4 25
-4.5%
TRAILING MARKET
BMY -0.2% vs S&P +4.3%
Full Year 2025 Results
FY 25 EPS
$6.15
BEAT +0.58%
Est. $6.11
FY 25 Revenue
$48.19B
BEAT +0.43%
Est. $47.99B
Market Reaction
Did BMY Beat Earnings? Q4 2025 Results
Bristol Myers Squibb delivered a mixed fourth quarter for fiscal 2025, posting revenue of $12.50 billion, up 1.3% year-over-year and edging past the $12.30 billion consensus estimate by 1.68%, while earnings per share of $1.26 fell well short of the … Read more Bristol Myers Squibb delivered a mixed fourth quarter for fiscal 2025, posting revenue of $12.50 billion, up 1.3% year-over-year and edging past the $12.30 billion consensus estimate by 1.68%, while earnings per share of $1.26 fell well short of the $1.63 analyst expectation, a miss of 22.70%. The primary culprit was a $1.39 billion Acquired IPRD charge tied to the Orbital Therapeutics acquisition, which alone depressed non-GAAP EPS by approximately $0.60 per share and distorted an otherwise resilient underlying performance. The Growth Portfolio, led by newer oncology and immunology assets, expanded 16% year-over-year to $7.39 billion, partially offsetting continued generic erosion across legacy products like Revlimid and Pomalyst. The FDA's acceptance of BMS's iberdomide application for relapsed or refractory multiple myeloma, granted priority review with a decision expected by August 2026, adds meaningful pipeline momentum heading into the new year. Looking ahead, management guided 2026 revenues of $46.00 to $47.50 billion with non-GAAP EPS of $6.05 to $6.35, and investors are watching closely as the portfolio transition accelerates.
Key Takeaways
- • Growth Portfolio revenues increased 16% to $7.4 billion in Q4, driven by immuno-oncology portfolio, Camzyos, Breyanzi, and Reblozyl
- • Eliquis demand growth and U.S. market share gains drove 8% worldwide revenue increase
- • Opdivo growth driven by recent launches in MSI-high CRC, HCC and 1L NSCLC strength
- • Camzyos continued strong U.S. demand in oHCM with 59% worldwide revenue growth
- • Breyanzi strong demand across five indications with 49% worldwide revenue growth
- • Ongoing strategic productivity initiative driving SG&A and R&D cost reductions
BMY YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
BMY Revenue by Segment
With YoY comparisons, source: SEC Filings
BMY Revenue by Geography
With YoY comparisons, source: SEC Filings
“We made significant progress in 2025, with real momentum in our Growth Portfolio and a strengthened balance sheet that provides the strategic flexibility to continue investing in growth drivers.”
— Christopher Boerner, Q4 2025 Earnings Press Release
BMY Earnings Trends
BMY vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
BMY EPS Trend
Earnings per share: estimate vs actual
BMY Revenue Trend
Quarterly revenue: estimate vs actual
BMY Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $1.58 | — | $11.49B | — |
| Q4 25 MISS FY | $1.63 | $1.26 | -22.70% | $12.50B | +1.68% |
| FY Full Year | $6.11 | $6.15 | +0.58% | $48.19B | +0.43% |
| Q3 25 BEAT | $1.52 | $1.63 | +7.56% | $12.22B | +3.58% |
| Q2 25 BEAT | $1.10 | $1.46 | +32.59% | $12.27B | +7.77% |
| Q1 25 BEAT | $1.50 | $1.80 | +19.88% | $11.20B | +4.62% |