November 6, 2018

Eli Lilly's 3Q Earnings Exceed Wall Street Expectations

Third quarter earnings for Indianapolis-based Eli Lilly exceeded Wall Street expectations. - stock photo

Third quarter earnings for Indianapolis-based Eli Lilly exceeded Wall Street expectations.

stock photo

INDIANAPOLIS (AP) — Eli Lilly and Co. (LLY) on Tuesday reported third-quarter net income of $1.15 billion.

The Indianapolis-based company said it had profit of $1.12 per share. Earnings, adjusted for amortization costs and asset impairment costs, came to $1.39 per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.37 per share.

The drugmaker posted revenue of $6.06 billion in the period.

Lilly expects full-year earnings in the range of $5.55 to $5.60 per share, with revenue in the range of $24.3 billion to $24.5 billion.

Lilly shares have climbed 30 percent since the beginning of the year, while the Standard & Poor's 500 index has risen slightly more than 2 percent. The stock has risen 32 percent in the last 12 months.


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

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