Filing Flows › Bristol Myers Squibb (BMY) › Q3 2025
Bristol Myers Squibb (BMY) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 30, 2025
Bristol Myers Squibb (BMY) reported revenue of $12.2B for the third quarter 2025 (Q3 2025), +3% from a year earlier and -0.4% from the quarter before. Operating margin was 25.5%, net earnings $2.2B (18.0% of revenue).
Bristol Myers Squibb, Q3 2025: revenue $12.2B (+3% year over year), operating margin 25.5%, net earnings $2.2B, operating cash flow $6.3B. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $12.2B | -0.4% | +3% |
| Operating profit | $3.1B | +76% | +86% |
| Net earnings | $2.2B | +67% | +81% |
| Operating cash flow | $6.3B | +61% | +13% |
| Free cash flow | $6.0B | +68% | +14% |
What changed
Revenue was $12.2B in Q3 2025, up 3% year over year and roughly flat from the previous quarter. Legacy Portfolio was the largest line at 44% of revenue. Opdivo added $0.17B year over year (up 7%), 52% of the total change. Revlimid declined 59%.
Operating profit was $3.1B, a 25.5% margin (up 11.4 points year over year). Of the extra revenue versus a year earlier, 436% reached operating profit, above the 14% margin then. Total costs fell 11% while revenue rose 3%. The fastest-growing cost line was Cost of revenue (+16%). Net earnings were $2.2B, up 82% year over year. The effective tax rate was 29.5%.
Operating cash flow was $6.3B (up 13% year over year), 288% of net earnings. Non-cash charges added back $1.0B of depreciation and amortization and $0.14B of share-based compensation. Working capital and other items added $3.0B. Capital expenditures of $0.32B left free cash flow of $6.0B.
Questions
What was Bristol Myers Squibb's revenue in the third quarter 2025?
Bristol Myers Squibb (BMY) reported revenue of $12.2B for the third quarter 2025 (Q3 2025), +3% from a year earlier and -0.4% from the quarter before.
Was Bristol Myers Squibb profitable in the third quarter 2025?
Operating profit was $3.1B (25.5% of revenue) and net earnings $2.2B.