Filing Flows › Bristol Myers Squibb (BMY) › Q2 2026 › vs Q2 2025
Bristol Myers Squibb (BMY) Q2 2026 vs Q2 2025 (year over year)
Bristol Myers Squibb's revenue rose $704M (+6%) from $12.3B in Q2 2025 to $13.0B in Q2 2026. The biggest changes: Net product sales +$696M (+6%); Alliance and other revenues +$25.0M (+7%). Operating margin 31.5% against 14.5% (+17.0 pts).
Bristol Myers Squibb, Q2 2026: revenue $13.0B (+6% year over year), operating margin 31.5%, net earnings $3.3B, operating cash flow $3.4B. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 31.5% | 14.5% | +17.0 pts |
| Net margin | 25.6% | 10.7% | +14.9 pts |
| Free cash flow margin | 23.8% | 29.0% | -5.2 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Legacy Portfolio | $5.4B | $5.7B | −$251M | -4% |
| Eliquis | $4.5B | $3.7B | $801M | +22% |
| Reblozyl | $735M | $568M | $167M | +29% |
| Other Growth products | $653M | $557M | $96.0M | +17% |
| Breyanzi | $484M | $344M | $140M | +41% |
| Revlimid | $425M | $838M | −$413M | -49% |
| Camzyos | $416M | $260M | $156M | +60% |
| Net product sales | $12.6B | $11.9B | $696M | +6% |
| Alliance and other revenues | $385M | $360M | $25.0M | +7% |
| Revenue | $13.0B | $12.3B | $704M | +6% |
| Operating profit | $4.1B | $1.8B | $2.3B | +130% |
| Costs & expenses | $8.9B | $10.5B | −$1.6B | -15% |
| Pre-tax earnings | $4.1B | $1.8B | $2.3B | +130% |
| Cost of revenue | $3.7B | $3.4B | $354M | +10% |
| Research & development | $3.0B | $2.6B | $379M | +15% |
| SG&A | $1.8B | $1.7B | $113M | +7% |
| Other operating costs | $376M | $2.8B | −$2.5B | -87% |
| Net earnings | $3.3B | $1.3B | $2.0B | +153% |
| Income tax | $770M | $460M | $310M | +67% |
| Depreciation & amortization | $594M | $1.0B | −$417M | -41% |
| Share-based compensation | $135M | $137M | −$2.0M | -1% |
| Working capital & other | $652M | −$1.5B | $2.1B | — |
| Operating cash flow | $3.4B | $3.9B | −$524M | -13% |
| Free cash flow (OCF − capex) | $3.1B | $3.6B | −$468M | -13% |
| Capital expenditures | $305M | $361M | −$56.0M | -16% |
Questions
How much did Bristol Myers Squibb's revenue grow year over year in Q2 2026?
Bristol Myers Squibb's revenue rose $704M (+6%) from $12.3B in Q2 2025 to $13.0B in Q2 2026.
What drove Bristol Myers Squibb's revenue change in Q2 2026?
Net product sales +$696M (+6%); Alliance and other revenues +$25.0M (+7%).