At April 25, 2024, Bristol-Myers Squibb released quarterly report for quarter ending march 31, 2024.
Bristol-Myers Squibb’s total revenues were $11.9 billion and $11.3 billion in Q1 2024 and Q1 2023, respectively.
The increase in total revenues was flat.
Net earnings were -$11.9 billion and $2.27 billion in Q1 2024 and Q1 2023, respectively.
Why dose the company incurred huge loss ? because acquired IPRD amounted to $12.95 billion in Q1 2024, while acquired IPRD was only $75 million in Q1 2023.
Acquired IPRD is resulting from assets acquisitions.
Net cash provided by operating activities was $2.83 billion and $2.97 billion in Q1 2024 and Q1 2023, respectively.
Bristol-Myers Squibb’ stock price is $44.86 per share, which is equivalent to $90.61 billion in market capitalization.
We think the stock price is reasonable and a buying opportunity .
