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Bristol-Myers beats profit, sales forecasts

Wednesday, 23 Oct 2013 | 7:43 AM ET

Oct 23 (Reuters) - Bristol-Myers Squibb Co reported better-than-expected quarterly earnings, fueled by strong sales of cancer and diabetes drugs, but stuck to its earlier full-year 2013 profit forecast.

The company on Wednesday said it earned $692 million, or 42 cents per share in the third quarter. That compared with a loss of $711 million, or 43 cents per share, in the year-earlier period when the company took a big charge for an experimental hepatitis C drug that showed disappointing results in clinical trials.

Excluding special items, Bristol-Myers earned 46 cents per share. Analysts, on average, expected 44 cents per share, according to Thomson Reuters I/B/E/S.

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