Investing.com -- Bristol-Myers Squibb Company (NYSE:BMY) slid more than 2% in premarket trading Thursday after the company's guidance for 2025 missed average analyst expectations.

For the fourth quarter of fiscal 2024, the drugmaker reported earnings per share (EPS) of $1.67, topping analyst expectations of $1.47. Revenue for the period rose 7.5% year-over-year to $12.34 billion, also better than the $11.54 billion projected by analysts.

The company's cancer treatment Revlimid generated $1.34 billion in revenue, down 7.7% from the previous year but ahead of the projected $1.08 billion. Eliquis revenue rose 11% year-over-year to $3.20 billion, exceeding the expected $3.03 billion.

“We made good progress in 2024, which was capped by a fourth quarter of strong topline growth driven by key products and important pipeline advancements. We also achieved the landmark U.S. approval of Cobenfy last year for the treatment of schizophrenia in adults, and we expect this medicine to have a meaningful impact on patients and the company as a new growth driver,” said Christopher Boerner, board chair and CEO of Bristol Myers Squibb.

“Our collective focus on execution has established a solid foundation to navigate the multi-year journey toward achieving top-tier sustainable growth and long-term shareholder returns.”

For fiscal 2025, the company forecasts EPS between $6.55 and $6.85, below the consensus estimate of $6.92. Full-year revenue is expected to reach $45.5 billion, slightly under the projected $46.27 billion.

Bristol-Myers Squibb also anticipates an adjusted gross margin of approximately 72%, falling short of the 74.6% consensus estimate.

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