10-Q quarterly report · filed Oct 30, 2025

Bristol Myers Squibb (BMY) Q3 2025 10-Q Quarterly Report

Short answer

Bristol Myers Squibb (BMY) filed its Q3 2025 10-Q quarterly report on Oct 30, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $12.2B (up 2.8% year over year) with net income of $2.2B.

Q3 2025 key financials · XBRL

Revenue
$12.2B
+2.8% YoY · −0.4% QoQ
Net income
$2.2B
+81.8% YoY · +68.0% QoQ
EPS (diluted)
$1.08
+80.0% YoY · +66.2% QoQ

Source: XBRL data from the Bristol Myers Squibb (BMY) Q3 2025 10-Q on SEC EDGAR. USD.

Bristol Myers Squibb Q3 2025 10-Q analysis

AI summary of MD&A and risk factor updates

Management Discussion & Analysis

  • Revenue details not explicitly provided in excerpt; focus on expense trends instead
  • Operating expenses $9.11B Q3 2025 vs $10.22B Q3 2024, down 11% YoY; YTD $27.83B vs $44.51B, down 37% YoY
  • Cost of products sold $3.44B Q3 2025, up 16% YoY; driven by alliance profit sharing and product mix
  • SG&A $1.79B Q3 2025, down 10% YoY due to strategic cost savings; R&D $2.53B Q3, up 6% YoY driven by IPRD impairment
  • Acquired IPRD charges spiked to $633M Q3 2025 from $262M prior year; amortization $831M Q3, down 65% YoY due to Revlimid fully amortized
  • Other income/(expense) net $(108)M Q3 2025 vs $234M expense prior year; includes interest expense $480M Q3, slightly down YoY
  • No direct segment revenue information; largest expense driver noted is product sales and alliance sharing
  • Management notes ongoing strategic productivity initiatives cutting SG&A and R&D costs this year
  • No revised guidance or explicit near-term outlook commentary included in this section

Risk Factors

  • No newly added risk factors explicitly stated this quarter, focus on product approvals updates
  • Regulatory risk from accelerated approvals of Opdivo + Yervoy for multiple indications in Japan, EC, and FDA between Feb-Aug 2025
  • Market risk from increased competition in immuno-oncology given multiple new first-line treatment approvals of Opdivo + Yervoy
  • Operational risk related to integration of expanded portfolio from recent approvals including Camzyos and Breyanzi in Japan and EC
  • Financial risk due to potential revenue concentration on Opdivo + Yervoy with multiple approvals enhancing dependency on these products

Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K

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