Investing.com -- Bristol-Myers Squibb reported first-quarter earnings and revenue that topped analyst expectations, and reaffirmed its outlook for the full year.

The company posted earnings per share of $1.58, topping analyst expectations of $1.42, as revenue also came in ahead of consensus at $11.49 billion versus the $10.92 billion forecast. Total revenue grew 3% year-over-year, or 1% excluding currency effects.

The company’s Growth Portfolio brought in $6.2 billion, up 12% — or 9% ex-FX — driven primarily by Camzyos, Breyanzi, and Reblozyl.

The Legacy Portfolio, meanwhile, posted $5.3 billion in revenue, down 6%, as generic competition continued to weigh on most of that segment. Demand for Eliquis increased, but was not enough to offset the broader erosion across legacy products.

“We are off to a good start in 2026, with first quarter results reflecting sustained momentum across our Growth Portfolio and disciplined execution throughout the business," said Christopher Boerner, CEO of Bristol Myers Squibb.

"With multiple pivotal data readouts and opportunities ahead, we remain focused on advancing our differentiated pipeline and translating this progress into meaningful outcomes for patients and shareholders."

Geographically, U.S. revenues slipped 1% to $7.8 billion, while international revenues rose 11% to $3.7 billion, or 4% on a constant-currency basis.

Adjusted gross margin contracted to 70.3% from 73.1% a year earlier, a decline the company attributed primarily to a shift in product mix.

Bristol-Myers reaffirmed its full-year 2026 guidance, projecting EPS of $6.05 to $6.35 against a consensus of $6.26, and revenue of $46 billion to $47.5 billion compared to the Street’s $47.12 billion estimate.