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:	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	12,111)	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	391)	372)	360)	315)	531)	409)	276)	306)	309)	321)	309)	289)	341)	405)	402)	340)	376)	381)	298)	275)
Revenues	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	(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	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	(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	(2,586)	(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	(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	(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)	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	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	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	(385)	(919)	(460)	(509)	(99)	(461)	398)	(392)	88)	(203)	218)	(503)	166)	(601)	(529)	(404)	514)	(605)	(492)	(501)
Net earnings (loss)	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	2)	6)	(3)	(6)	(4)	(4)	(4)	(3)	—)	(6)	(4)	(5)	(3)	(2)	(8)	(5)	—)	(6)	(6)	(8)
Net earnings (loss) attributable to BMS	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)

Revenues exhibited a generally increasing trend over the observed period, though with some quarterly fluctuations. Net product sales consistently comprised the vast majority of total revenues. A notable increase in Alliance and other revenues occurred in the June 2022 and December 2024 quarters. However, a significant disruption is observed in the March 2025 period, with a substantial decrease in revenues and a corresponding net loss.

Gross margin remained relatively stable between approximately 8,200 and 9,600 million US dollars for much of the period, with a marked decline in the December 2024 quarter. This decline coincided with a substantial increase in the cost of products sold. Operating income demonstrated a similar pattern, with a significant decrease in the March 2025 quarter resulting in a substantial operating loss.

Revenue Growth: Revenue growth was positive from March 2021 through June 2024, with a peak in June 2024 at 12,201 million US dollars. However, revenue decreased significantly in the subsequent quarters, reaching 11,201 million US dollars by March 2025.
Cost of Products Sold: The cost of products sold generally tracked with revenue, but experienced a dramatic increase in December 2024, rising to 4,812 million US dollars from 2,957 million US dollars in the prior quarter. This increase significantly impacted gross margin and operating income.
Operating Expenses: Selling, general and administrative expenses and research and development expenses remained relatively consistent throughout the period, with some seasonal variations. However, Acquired IPRD experienced a large negative impact in the March 2024 quarter, and again in the September 2025 quarter, significantly affecting operating income.
Profitability: Net earnings were positive throughout most of the period, peaking at 2,372 million US dollars in December 2021. However, a substantial net loss of 11,911 million US dollars was recorded in March 2025, driven by the combination of decreased revenues and increased costs, particularly related to Acquired IPRD.

Other income (expense), net, fluctuated throughout the period, but generally remained within a range of -800 to 700 million US dollars. Income tax provision also varied, shifting between a benefit and an expense. The net earnings attributable to the company closely mirrored the net earnings figures, with a minor adjustment for noncontrolling interest.

The period ending December 2025 shows a partial recovery in net earnings, but remains significantly lower than prior periods. The substantial loss in March 2025 warrants further investigation to determine the underlying causes and potential long-term impacts.

AI Ask an analyst for more

Download chart

Bristol-Myers Squibb Co. (NYSE:BMY)

Income Statement Quarterly Data

Income Statement
Quarterly Data