PRINCETON, N.J. (AP) — PRINCETON, N.J. (AP) — Bristol Myers Squibb Co. (BMY) on Thursday reported fourth-quarter net income of $1.09 billion.

The Princeton, New Jersey-based company said it had profit of 53 cents per share. Earnings, adjusted for non-recurring costs, came to $1.26 per share.

The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.15 per share.

The biopharmaceutical company posted revenue of $12.5 billion in the period, also beating Street forecasts. Ten analysts surveyed by Zacks expected $12.25 billion.

For the year, the company reported net income of $7.05 billion, or $3.46 per share, swinging to a profit in the period. Revenue was reported as $48.19 billion.

Bristol Myers expects full-year earnings in the range of $6.05 to $6.35 per share, with revenue in the range of $46 billion to $47.5 billion.

Bristol Myers shares have risen almost 7% since the beginning of the year, while the S&P’s 500 index has risen 0.5%. The stock has fallen 2.5% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BMY at https://www.zacks.com/ap/BMY