April 26, 2018 / 11:07 AM / 7 months ago

Bristol-Myers profit tops Street view, raises 2018 forecast

NEW YORK, April 26 (Reuters) - Bristol-Myers Squibb Co on Thursday reported a first-quarter profit that exceeded Wall Street estimates on strong demand for its two most important medicines, and the U.S. drugmaker raised its full-year earnings forecast.

Excluding special items, Bristol-Myers said it earned 94 cents per share. Analysts on average expected 85 cents per share, according to Thomson Reuters I/B/E/S.

The company said net profit for the quarter slipped to $1.5 billion, or 91 cents per share, from $1.52 billion, or 94 cents a share, a year ago due to expenses associated with a recently-announced collaboration deal.

Bristol-Myers now expects 2018 earnings of $3.35 to $3.45 per share, up from its prior view of $3.15 to $3.30. (Reporting by Bill Berkrot; editing by Clive McKeef)

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