UPDATE 1-Bristol-Myers beats profit, sales forecasts
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.
Global revenue rose 9 percent to $4.07 billion, topping Wall Street expectations of $3.99 billion.
The company reaffirmed it expects earnings for full-year 2013 of $1.70 to $1.78 per share, excluding special items. It earned $1.99 per share last year.