BRISTOL MYERS SQUIBB CO is expected to release its Q2 2026 10-Q filing in the upcoming earnings season. Last quarter: Bristol-Myers Squibb delivered Q1 2026 revenue of $11.49B (+2.6% YoY) and net income of $2.68B (+9.0% YoY), though operating cash flow fell sharply by 43.5% to $1.10B amid a 17.4% surge in R&D spending and elevated long-term debt of $44.1B.
Drawn from management commentary in the Q1 2026 10-Q:
Total revenue grew 2.6% YoY to $11.49B in Q1 2026, suggesting continued demand for BMY's key products despite ongoing patent cliff pressures on legacy franchises. The modest top-line growth reflects a transitioning portfolio as newer growth products offset declines in maturing assets.
R&D expenses jumped 17.4% YoY to $2.65B in Q1 2026, representing approximately 23% of total revenue. This significant increase indicates management is aggressively investing in next-generation therapies to address upcoming patent expirations and sustain long-term growth.
Cost of revenue rose 12.8% YoY to $3.42B, outpacing revenue growth of 2.6%, which signals gross margin compression. This trend may reflect product mix shifts, manufacturing cost inflation, or royalty obligations tied to acquired assets.
Revenue
$11.49B
++2.57% YoY
EPS (Basic)
$1.31
++8.26% YoY
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