May 7, 2020 / 11:56 AM / 24 days ago

BRIEF-Bristol-Myers Reports Quarterly Revenue of $10.78 Billion

May 7 (Reuters) - Bristol-Myers Squibb Co:

* QTRLY REVENUE $10.78 BILLION, UP 82%

* Q1 EARNINGS PER SHARE VIEW $1.49, REVENUE VIEW $10.02 BILLION — REFINITIV IBES DATA

* QUARTER BENEFITTED BY ABOUT $500 MILLION DUE TO COVID-19 RELATED BUYING PATTERNS

* AFFIRMS 2020 NON-GAAP EPS GUIDANCE RANGE OF $6.00 TO $6.20

* AFFIRMS 2021 NON-GAAP EPS GUIDANCE RANGE OF $7.15 TO $7.45

* UPDATES 2020 GAAP EPS GUIDANCE RANGE FROM $0.75 - $0.95 TO $0.37 TO $0.57

* ON PRO FORMA BASIS, QTRLY REVENUE UP 13% OR 8% EXCLUDING IMPACT OF COVID-19

* SEES 2020 REVENUE OF $40.0 BILLION TO $42.0 BILLION

* QTRLY GAAP LOSS PER SHARE $0.34; QTRLY NON-GAAP EARNINGS PER SHARE $1.72

* FY2020 EARNINGS PER SHARE VIEW $6.08, REVENUE VIEW $41.61 BILLION — REFINITIV IBES DATA

* QTRLY WORLDWIDE OPDIVO REVENUE $1.77 BILLION, DOWN 2%

* BRISTOL-MYERS SQUIBB - $2.5 BILLION SYNERGY TARGET REMAINS ON TRACK

* QTRLY WORLDWIDE ELIQUIS REVENUE $2.64 BILLION, UP 37%

* BRISTOL-MYERS SQUIBB - CASH, CASH EQUIVALENTS AND MARKETABLE DEBT SECURITIES WERE $19.0 BILLION AND DEBT WAS $46.7 BILLION, AS OF MARCH 31

* BRISTOL-MYERS SQUIBB - 2020 AND 2021 GUIDANCE ASSUMES PEAK IMPACT OF COVID-19 CRISIS ON CO’S BUSINESS OCCURS IN Q2 2020

* BRISTOL-MYERS SQUIBB - 2020 AND 2021 GUIDANCE ASSUMES A RETURN TO A MORE STABLE BUSINESS ENVIRONMENT IN Q3, MINIMAL IMPACT FROM Q4 2020 ONWARDS

* BRISTOL-MYERS - GUIDANCE ASSUMES THAT PRODUCTS THAT SAW SIGNIFICANT ADVANCED BUYING AT Q1 END WILL SEE THAT INVENTORY WORK-DOWN DURING REST OF YEAR

* BRISTOL-MYERS - GUIDANCE ASSUMES A REDUCTION IN NEW-TO-BRAND PRESCRIPTIONS, ON PHYSICIAN ADMINISTERED PRODUCT DEMAND IN Q2 SEES RECOVERY DURING Q3 Source text for Eikon: Further company coverage:

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