Bristol Myers Squibb reported slightly better-than-expected fourth-quarter earnings on Friday, thanks to high sales of the blood thinner Eliquis and cancer medication Opdivo.

The company reported a quarterly profit of $4.07 billion, or $1.83 per share, up from $3.33 billion, or $1.46 per share, a year ago. According to Refinitv IBES statistics, analysts projected the company to earn $1.80 per share on average.

The quarter's revenue was $11.99 billion, compared to $11.07 billion in 2020. Eliquis sales increased 18% to $2.7 billion in the quarter, while cancer immunotherapy sales increased 11% to $1.99 billion.Bristol Myers hands over $200M upfront, $1.36B in biobucks for Agenus'  preclinical TIGIT asset | FierceBiotech

Revlimid, the company's best-selling cancer medicine, saw a 1% increase in sales to $3.33 billion in the third quarter. This year, that drug will face generic competition in the United States and elsewhere, and sales are projected to fall.

This year, Bristol Myers anticipates continued earnings and sales growth. Earnings per share are expected to range from $7.65 to $7.95 in 2022, according to the business. The average analyst projection for the year was $7.86 per share.

It also confirmed its $47 billion sales target for 2022.