How did BMY's Q4 earnings surprise investors?

Bristol-Myers Squibb Co (BMY) Q4 2024 earnings report exceeded investor expectations in several key areas, leading to a positive surprise: 1. **Revenue Surpass**: BMY's total revenue for Q4 2024 was reported at $12.3 billion, surpassing the estimated $11.57 billion. This marked an 8% increase year-over-year, driven by strong growth in key products and a 23% increase in sales from the company's growth portfolio. 2. **Earnings Per Share (EPS)**: The company's Non-GAAP EPS was reported at $1.67, significantly above the estimated $0.97. This reflected improved profitability and operational efficiency. 3. **Stock Performance**: Despite a net income Qoq growth of -93.74% and a net income of $76 million, the company's stock remained stable at $55.3, indicating investor confidence in the company's long-term prospects. 4. **Market Reaction**: Analysts and investors responded positively to the earnings report, with many citing the company's strong revenue growth, particularly in its growth portfolio, and the achievement of clinical and regulatory milestones as key factors. Overall, BMY's Q4 2024 earnings report demonstrated robust revenue growth and profitability, surpassing market expectations and contributing to a positive market reaction.