How did BMY's Q1 2024 EPS surprise investors?

Bristol-Myers Squibb's (BMY) Q1 2024 EPS of $0.07 exceeded investor expectations, as evidenced by the company's guidance for FY24 adjusted EPS above estimates. This positive surprise reflects the company's strong financial performance and strategic initiatives, which have contributed to its resilience in the face of industry challenges. |code|Ticker|Name|Date|EPS Surprise YoY|EPS Surprise|market_code| |---|---|---|---|---|---|---| |BMY|BMY.N|Bristol-Myers Squibb|20230630|-309.0909090909091|-0.23|169| |BMY|BMY.N|Bristol-Myers Squibb|20230930|49.999999999999986|0.24|169| |BMY|BMY.N|Bristol-Myers Squibb|20231231|70|0.17|169| |BMY|BMY.N|Bristol-Myers Squibb|20240331|-12.499999999999993|0.07|169| 1. **Strategic Acquisitions**: BMY's acquisition of Karuna Therapeutics and RayzeBio, as well as the completion of the Mirati Therapeutics purchase, demonstrate the company's commitment to strengthening its product portfolio through strategic acquisitions. These moves are likely to have a positive impact on future earnings, as they bring in new products and treatments with growth potential. 2. **New Product Portfolio**: The company's new product portfolio saw a significant increase in revenues, driven by demand across the board. This indicates that BMY's focus on innovation and new products is paying off, which is a positive signal for future earnings growth. 3. **Revenue Growth Guidance**: BMY's guidance for FY24 revenue growth in the low single-digits is in line with analysts' expectations. This suggests that the company is on track to deliver steady revenue growth, which is a positive indicator for investors. Overall, BMY's Q1 2024 EPS surprise reflects the company's solid financial performance and strategic initiatives that are positioning it for future growth.