Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Bristol-Myers Squibb Co., consolidated income statement (quarterly data)

US$ in millions

3 months ended:	Jun 30, 2026	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021
Net product sales	12,588)	11,168)	12,111)	11,850)	11,909)	10,886)	11,811)	11,483)	11,925)	11,559)	11,168)	10,645)	10,917)	11,048)	11,065)	10,813)	11,485)	11,308)	11,609)	11,243)	11,405)	10,798)
Alliance and other revenues	385)	321)	391)	372)	360)	315)	531)	409)	276)	306)	309)	321)	309)	289)	341)	405)	402)	340)	376)	381)	298)	275)
Revenues	12,973)	11,489)	12,502)	12,222)	12,269)	11,201)	12,342)	11,892)	12,201)	11,865)	11,477)	10,966)	11,226)	11,337)	11,406)	11,218)	11,887)	11,648)	11,985)	11,624)	11,703)	11,073)
Cost of products sold, excludes amortization of acquired intangible assets	(3,726)	(3,421)	(4,096)	(3,435)	(3,372)	(3,033)	(4,812)	(2,957)	(3,267)	(2,932)	(2,745)	(2,506)	(2,876)	(2,566)	(2,593)	(2,353)	(2,720)	(2,471)	(2,356)	(2,291)	(2,452)	(2,841)
Gross margin	9,247)	8,068)	8,406)	8,787)	8,897)	8,168)	7,530)	8,935)	8,934)	8,933)	8,732)	8,460)	8,350)	8,771)	8,813)	8,865)	9,167)	9,177)	9,629)	9,333)	9,251)	8,232)
Selling, general and administrative	(1,826)	(1,617)	(2,181)	(1,789)	(1,713)	(1,584)	(2,136)	(1,983)	(1,928)	(2,367)	(2,073)	(2,003)	(1,934)	(1,762)	(2,266)	(1,930)	(1,787)	(1,831)	(2,354)	(1,788)	(1,882)	(1,666)
Research and development	(2,959)	(2,649)	(2,586)	(2,528)	(2,580)	(2,257)	(3,191)	(2,374)	(2,899)	(2,695)	(2,478)	(2,242)	(2,258)	(2,321)	(2,510)	(2,418)	(2,321)	(2,260)	(2,518)	(2,980)	(2,478)	(2,219)
Acquired IPRD	—)	(94)	(1,392)	(633)	(1,508)	(188)	(30)	(262)	(132)	(12,949)	(600)	(80)	(158)	(75)	(52)	(30)	(400)	(333)	(89)	(271)	(793)	(6)
Amortization of acquired intangible assets	(437)	(437)	(826)	(831)	(830)	(830)	(1,693)	(2,406)	(2,416)	(2,357)	(2,278)	(2,256)	(2,257)	(2,256)	(2,343)	(2,418)	(2,417)	(2,417)	(2,417)	(2,546)	(2,547)	(2,513)
Operating income (loss)	4,025)	3,271)	1,421)	3,006)	2,266)	3,309)	480)	1,910)	1,559)	(11,435)	1,303)	1,879)	1,743)	2,357)	1,642)	2,069)	2,242)	2,336)	2,251)	1,748)	1,551)	1,828)
Other income (expense), net	61)	(31)	49)	108)	(493)	(338)	(305)	(234)	(273)	(81)	371)	258)	116)	413)	217)	140)	(284)	(649)	(393)	409)	2)	702)
Earnings (loss) before income taxes	4,086)	3,240)	1,470)	3,114)	1,773)	2,971)	175)	1,676)	1,286)	(11,516)	1,674)	2,137)	1,859)	2,770)	1,859)	2,209)	1,958)	1,687)	1,858)	2,157)	1,553)	2,530)
Income tax (provision) benefit	(770)	(562)	(385)	(919)	(460)	(509)	(99)	(461)	398)	(392)	88)	(203)	218)	(503)	166)	(601)	(529)	(404)	514)	(605)	(492)	(501)
Net earnings (loss)	3,316)	2,678)	1,085)	2,195)	1,313)	2,462)	76)	1,215)	1,684)	(11,908)	1,762)	1,934)	2,077)	2,267)	2,025)	1,608)	1,429)	1,283)	2,372)	1,552)	1,061)	2,029)
Noncontrolling interest	1)	(1)	2)	6)	(3)	(6)	(4)	(4)	(4)	(3)	—)	(6)	(4)	(5)	(3)	(2)	(8)	(5)	—)	(6)	(6)	(8)
Net earnings (loss) attributable to BMS	3,317)	2,677)	1,087)	2,201)	1,310)	2,456)	72)	1,211)	1,680)	(11,911)	1,762)	1,928)	2,073)	2,262)	2,022)	1,606)	1,421)	1,278)	2,372)	1,546)	1,055)	2,021)

The financial performance over the analyzed period is characterized by steady top-line growth and a significant one-time volatility event in early 2024, followed by a robust recovery in profitability. Total revenues grew from 11.07 billion USD in March 2021 to 12.97 billion USD by June 2026, driven primarily by a consistent increase in net product sales.

Revenue Trends: Total revenues exhibited a gradual upward trajectory, with a notable acceleration starting in 2024. While quarterly fluctuations occurred, the overall trend reflects a stable expansion of the market presence, culminating in the highest recorded quarterly revenue of 12.97 billion USD in June 2026.
Gross Margin and Cost Analysis: Gross margins remained generally strong, though a significant anomaly is observed in December 2024, where the cost of products sold spiked to 4.81 billion USD, resulting in a corresponding dip in gross margin to 7.53 billion USD. Outside of this event, cost of products sold typically fluctuated between 2.29 billion USD and 3.43 billion USD.
Operating Expenditure and Strategic Charges: Research and development spending remained a primary operational cost, generally ranging between 2.2 billion USD and 3.2 billion USD per quarter. A critical event occurred in March 2024, where an Acquired IPRD charge of 12.95 billion USD was recognized. This extraordinary expense led to a quarterly operating loss of 11.44 billion USD and a net loss of 11.91 billion USD.
Amortization Shifts: A structural change in amortization of acquired intangible assets is evident beginning in March 2024. Expenses dropped from a consistent range of 2.3 billion USD to 2.5 billion USD per quarter down to 830 million USD in March 2024, eventually decreasing further to 437 million USD by 2026. This reduction in non-cash charges significantly bolstered operating income in the latter part of the period.
Net Earnings and Profitability Recovery: Following the significant loss in the first quarter of 2024, net earnings attributable to the company showed a strong recovery. Earnings grew from 72 million USD in December 2024 to a peak of 3.32 billion USD in June 2026, indicating a successful return to profitability and improved operational efficiency.

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Bristol-Myers Squibb Co. (NYSE:BMY)

Income StatementQuarterly Data

Income Statement
Quarterly Data