Bristol Myers Squibb : Upgrades 2021 Adjusted Profit Guidance, Sees Revenue Growth

 Bristol Myers Squibb Co. Thursday raised its guidance for its full-year adjusted profit and said it expects revenue growth in 2021.

Bristol said it expects 2021 earnings of $3.12 to $3.32 a share, and full-year adjusted earnings of $7.35 to $7.55 a share. The company's previous guidance had called for an adjusted profit of $7.15 to $7.45 a share.

Analysts surveyed by FactSet had been forecasting an adjusted profit of $7.46 a share.

World-wide revenue will increase by a percentage in the high single digits, Bristol estimated. Gross margin will be approximately 80.5%. The company's gross margin in the fourth quarter of 2020 was 73.7%.

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