Short answer
Bristol Myers Squibb (BMY) filed its Q2 2025 10-Q quarterly report on Jul 31, 2025 for the quarter ended Jun 30, 2025. Quarterly revenue was $12.3B (up 0.6% year over year) with net income of $1.3B.
Q2 2025 key financials · XBRL
- Revenue
- $12.3B
- +0.6% YoY · +9.5% QoQ
- Net income
- $1.3B
- −22.0% YoY · −46.7% QoQ
- EPS (diluted)
- $0.65
- −22.6% YoY · −45.8% QoQ
Source: XBRL data from the Bristol Myers Squibb (BMY) Q2 2025 10-Q on SEC EDGAR. USD.
Bristol Myers Squibb Q2 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Total expenses $10.5B Q2 2025, down 4% from $10.9B Q2 2024; cost of products sold up 3% to $3.37B Q2 2025 vs $3.27B Q2 2024
- SG&A down 11% to $1.71B Q2 2025 vs $1.93B Q2 2024; R&D decreased 11% to $2.58B from $2.90B Q2 2024
- Best segment: Acquired IPRD charges $1.51B Q2 2025, up from $132M Q2 2024, due to BioNTech upfront fee
- Worst impact: Amortization of acquired intangible assets down 66% to $830M Q2 2025 vs $2.42B Q2 2024, lowering expense
- Operating cash flow not detailed; year-to-date expenses down 45% driven by lower amortization and acquisition-related costs
- No updated revenue or profit guidance disclosed; management notes ongoing strategic productivity initiatives driving cost savings
Risk Factors
- New product approval risk: FDA approved Opdivo + Yervoy for unresectable/metastatic HCC and CRC in April 2025, impacting market launch timing
- Material regulatory update: EC approved Opdivo Qvantig for multiple adult solid tumors May 2025, expanding commercial indications significantly
- Compliance risk from diverse multinational approvals: multiple approvals in Japan, EU, US require harmonized regulatory adherence across markets
- Near-term competitive risk: increased market competition for newly approved therapies like Camzyos (oHCM) and Augtyro (ROS1-positive NSCLC)
- Financial risk from product concentration: growth concentrated on Opdivo + Yervoy combination across multiple indications with expanding market exposure
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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