Investing.com -- Bristol-Myers Squibb shares rose more than 1% in premarket trading Thursday after the drugmaker posted second-quarter results well ahead of expectations and raised its full-year guidance.

The company reported earnings per share of $2.04, beating the analyst estimate of $1.61. Revenue came in at $12.97 billion, up 5% excluding currency effects, well ahead of consensus expectations of $11.71 billion.

Growth Portfolio revenue rose 15%, or 14% excluding currency effects, to $7.6 billion, driven primarily by Opdivo Qvantig, Reblozyl, Camzyos, Breyanzi and Opdualag. Legacy Portfolio revenue fell 4%, or 5% excluding currency effects, to $5.4 billion, as increased demand for Eliquis was more than offset by continued generic erosion across the rest of the portfolio.

“The Growth Portfolio continues to deliver, achieving 15% growth in the quarter, and represents an expanding share of our overall business," said CEO Christopher Boerner in the press release. "As a result of our consistent execution and continued momentum, we are raising our 2026 full-year outlook."

Regionally, U.S. revenue rose 6% to $9.0 billion, while international revenue increased 6%, or 5% excluding currency effects, to $4.0 billion.

Adjusted gross margin declined to 71.4% from 72.6%, which the company attributed primarily to a shift in product mix.

Bristol-Myers Squibb raised its full-year 2026 guidance, now expecting earnings per share of $6.75 to $7.00, up from a prior range of $6.05 to $6.35 and above the $6.34 consensus estimate. The company also lifted its revenue outlook to $49.5 billion to $50 billion, from a previous forecast of roughly $46.0 billion to $47.5 billion, ahead of the $47.5 billion consensus.