Bristol Myers Squibb
Q2 2022 Earnings Call
Jul 27, 2022, 8:00 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Good day, and welcome to the Bristol-Myers Squibb second quarter results conference call. Today's conference is being recorded. At this time, I would like to turn the conference over to Mr. Tim Power, vice president, investor relations.
Please go ahead, sir.
Tim Power -- Vice President, Investor Relations
Thanks, Sara, and good morning, everyone. Thanks for joining us this morning for our second quarter 2022 earnings call. I'm joined this morning with prepared remarks by Giovanni Caforio, our board chair and chief executive officer; and by David Elkins, our chief financial officer. And also taking part in today's call are Chris Berner, our chief commercialization officer; and Samit Hirawat, our chief medical officer and head of global drug development.
You'll note that we posted slides to bms.com that you can use to follow along with for Giovanni and David's remarks. Before we get started, I'll read our forward-looking statement. During this call, we will make statements about the company's future plans and prospects that constitute forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including those discussed in the company's SEC filings.
These forward-looking statements represent our estimates as of today and should not be relied upon as representing our estimate as of any future date. We specifically disclaim any obligation to update forward-looking statements, even if our estimates change. We'll also focus our comments on our non-GAAP financial measures, which are adjusted to exclude certain specified items. Reconciliations of certain non-GAAP financial measures to the most comparable GAAP measures are available at bms.com.
And I'll hand it over now to Giovanni.
Giovanni Caforio -- Board Chair and Chief Executive Officer
Thank you, Tim, and good morning, everyone. Let's start with our second-quarter performance on Slide 4. We are midway through 2022 and we've made great progress during an important year for the company. We continued to grow our in-line franchises, expand our new product portfolio, advance our pipeline, and execute important business development activities.
Our foundation is strong and positions us well for growth. With respect to our commercial performance, we delivered continued sales growth with revenue up 5%, adjusting for foreign exchange and non-GAAP EPS increasing by 18%. The strong revenue growth was driven by excellent commercial execution with solid year-over-year growth for our in-line brands, particularly for Eliquis and our I-O franchise, and significant momentum from our new product portfolio. Within our new product portfolio Opdualag, our third I-O agent, is off to a great start and we are pleased with the team's early execution.