INDIANAPOLIS (AP) — INDIANAPOLIS (AP) — Eli Lilly and Co. (LLY) on Tuesday reported first-quarter net income of $2.24 billion.
On a per-share basis, the Indianapolis-based company said it had net income of $2.48. Earnings, adjusted for one-time gains and costs, were $2.58 per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.53 per share.
The drugmaker posted revenue of $8.77 billion in the period, which did not meet Street forecasts. Seven analysts surveyed by Zacks expected $8.81 billion.
Lilly expects full-year earnings in the range of $13.50 to $14 per share, with revenue in the range of $42.4 billion to $43.6 billion.
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